Crypto lender Celsius Network must return around $44 million worth of crypto back to customers, even if it didn't enter Celsius's interest-bearing accounts.
Chief Bankruptcy Judge Martin Glenn issued the order on Wednesday after parties involved in the case concluded that funds belong to users, not Celsius, Bloomberg reported.
Celsius moved more than $200,000 in assets into custody accounts before its bankruptcy this summer, which opened the possibility that it could claim ownership of those funds. However, Glenn ruled that Celsius doesn't have to return crypto if the transfers were less than $7,500, equaling about $11 million in assets.
All Comments