Claim Distributions Overview

Modified on Wed, 22 May 2024 at 02:20 PM

TABLE OF CONTENTS


How will I receive my claim distribution?

The Plan [Docket №4289] includes distributions of creditor claims made in Bitcoin (BTC) and Ethereum (ETH) cryptocurrencies for certain eligible creditors who reside in jurisdictions where our Distribution Partners, Coinbase and PayPal/Venmo, can support cryptocurrency distributions. In the event you cannot receive cryptocurrency distributions via Coinbase or PayPal/Venmo for any reason, you will receive your distribution in US dollars (USD) through one of our other partners.

 

When will I receive my claim distribution?

Initial cryptocurrency and US dollar distributions are currently being made to eligible creditors, as of February 1, 2024. Claim distributions are being made to hundreds of thousands of creditors around the world, and this process will take time to successfully communicate instructions and distribute claims to all eligible creditors.

 

How will I know which Distribution Partner I have been assigned?

You will be notified directly via email once your Distribution Partner has been assigned. In the event you no longer have access to your email address associated with your Celsius account, please initiate a support inquiry

In general, distributions to creditors residing in the United States will be made via PayPal, and distributions to creditors outside of the United States will be made by Coinbase (as long as Coinbase supports their country). 

 

Please see the Coinbase Cryptocurrency Distributions section of the Knowledge base for a list of countries supported by Coinbase. If you are not eligible to receive a distribution in cryptocurrency due to your particular circumstances, you will receive your distribution in US dollars.

 

Can I choose my Distribution Partner?

No. You are not able to affirmatively select a Distribution Partner.

 

Why haven’t I been contacted about my claim distribution?

Communications are currently being made to all eligible creditors through email. The distributions of creditor claims are being made to hundreds of thousands of creditors around the world, and this process will take time to successfully communicate instructions and distribute claims to all eligible creditors. 

 

In the event you are a creditor who is not eligible to receive an initial claim distribution, you will not receive claim distribution instructions at this time. Creditors will be notified if and when more information is available. 

 

I received an email communication, but how do I know if it's valid?

Please stay alert and remain vigilant for phishing attempts. Celsius or their respective advisors will never contact you directly by phone, text message, or social media to request account or personal information absent an order or on-the-record instruction by the Court.

 

The Notice of Effective Date [Docket №4298] includes recommendations on how you can avoid falling victim to phishing attempts. It also includes a list of official websites and email addresses for reference, and these email addresses are reproduced below:

  • celsius.network
  • stretto.com
  • cases.stretto.com
  • celsiusnetwork.medium.com
  • cases.stretto.com/Celsius
  • hello@celsius.network
  • no-reply@cases-cr.stretto-services.com
  • ionicdigital@odysseytrust.com
  • celsiuslitigationadmin@m3-partners.com

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