Crypto Landing Platform Celsius to Refund $44M in Crypto to Users

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A US court has ordered crypto landing platform Celsius Network to return them $43.87 million in digital assets.

According to Bloomberg, the group of defendants filed the corresponding request in September.

As of the end of August, Celsius had about 58,300 users who have collectively deposited and retained more than $210 million on the platform.

Of those, 15,680 customers deposited about $43.87 million in assets into custodial accounts. At a past hearing, the court orally ordered the platform to return the funds to them.

Custodial account holders still retain ownership of their crypto assets. For them, the platform acted as a custodial intermediary.