Bankrupt crypto lender Celsius Network has finally opened up withdrawals for certain customers, almost a year after it suspended withdrawals before filing for Chapter 11 bankruptcy.

Customers who held Celsius custody accounts have been able to withdraw their funds from the bankrupt crypto lender as of 2 March. 

The withdrawals resumed 263 days after they were first suspended in June last year. Customers who were eligible to withdraw received an email from the bankrupt lender, which asked them to submit requests for withdrawals following know-your-customer (KYC) completion. 

Details regarding withdrawal eligibility were shared by Celsius last month. The document stated that customers who had only held funds in Custody Accounts were eligible to withdraw funds, much to the dismay of Earn Account customers.

The eligible customers are allowed to withdraw 94% of their funds. The remaining 6% is contingent on the outcome of future court hearings.

(By Suzuki Shillsalot)

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