New Tool Shows Heavy Losses in Celsius Crypto Meltdown
The biggest monetary losers from cryptolender Celsius’ demise are on full public display.
A new search tool released this weekend seems to filter through a recently released one database of Celsius customer data and pulls together a video game style leaderboard showing how much money they have lost since the company archived for bankruptcy. The top three names reportedly lost $40.5 million, $38.2 million and $26.4 million, respectively. Celsius at the moment owes about $4.7 billion to users, but simply doesn’t have the money to pay them.
In addition to the leaderboard, the “Celsius Net Worth” website allows users to search for the legal names of individual Celsius users to see their losses. There is also a tab called “random” which, as the name suggests, pulls up the financial losses of a random person in the database. The website breaks down each customer’s loss by the specific coin they owned and shows both the number of coins they had and their value.
Celsius, once one of the leading lenders in the crypto space, archived for Chapter 11 bankruptcy back in July with cryptocurrency valuations in freefall. The sudden demise helped set in motion what eventually escalated into one of the most brutal crypto downturns to ever hit the industry. The bankruptcy came almost a month after the company announced it “paused all withdrawals” on its service due to extreme market volatility. The seemingly temporary pause grew longer and longer until it finally became clear that Celsius was on his way out. Around a dozen other crypto firms followed Celsius’ lead and stopped transactions on their platforms as well.
A bankruptcy filing last week published 14,000 pages of Celsius customer information that includes the name and recent transaction history of each user on the platform. While Gizmodo could not independently confirm where the “Celsius Net Worth” tools scrape their data from, these documents are the most likely source.
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The same documents revealed that Celsius CEO Alex Mashinsky and former Chief Strategy Officer Daniel Leon paid out as much as $17 million and as much as $23 million in crypto, respectively. not long before the company moved to stop withdrawals.
Celsius did not immediately respond to Gizmodo’s request for comment.
