/biz/ - Business & Finance

>He thought he was safe because he pulled his funds off before Chapter 11

Oh no no no ahahahah

>>50410168
> Muh 60% yield.
Ahhhhhhhh you can't just heckin' pull my withdrawls back.

>>50410341
You only get fucked if you had insider information. You can't be held liable if you didn't know.

>>50410516

That's not true, the bankruptcy court can still claw back the funds. Problem for them is they can't send all the court orders they want, then they have to actually enforce them. Chances are they are going to take the time and money to go after smaller depositors, but if i withdrew $1m from Celsius or something like that, I might be sweating right now. $20k, you're probably safe just ignoring anything you might get from the court.

>>50410168
>"Ah yes yes hello this Mr. Scheckleberg with Scheckleberg/Scheckleberg and Goldstein"
>"Yes we're calling for Mr anon"
>"Yes this call is about your funds on Celsius that you withdrew within the 90 day period before they filed for bankruptcy"
>"yes you'll need to give them back"
>"or else your credit score will go down"
>"well technically after 7 years your score would go back to normal"
>"ok sir, you will definitely be hearing more from us"

>>50410592
Well there's a bit of a grey area here. They can probably claw back rewards but they're going to be extremely hard pressed to claw back the principle.

Best not to comply unless you had like seven figures in there. They don't have the funds to get the court there. Something I've learned from doing estate work is that a lot of times you realize that the reward ain't worth the money you'll spend getting there. They can REASONABLY demand it but if it comes to court it will fall apart really fast.

How do people fall for these high interest rate crypto ponzi schemes?
Do you realize how banks work? They have to make more interest on the money you deposit than they pay out to depositors or they lose money. It’s called net interest margin.
Where do you retarded faggots think these 10%+ interest payments are going to come from? Literally no company on earth would borrow from some gay ass crypto lender for such high rates unless their business is incredibly risky and can’t get loans anywhere else.

>>50410168
CLAW BACK THEIR FUNDS
IF IM SUFFERING YOU HAVE TO SUFFER TOO

I never got into any crypto but it seems like it has caused reddit users to go broke so at least thats a good thing

>>50410599
Is this what OP means?
I don't think that's legal

>>50410168
> they dont know chapter 11 allows celsius to not pay anything back

>>50411017
WE'RE ALL IN THIS TOGETHER
YOU WERE SUPPOSED TO HODL LIKE THE REST OF US

>>50410592
This sounds like a job for Kleros court good sir

GIVE ME MY ETH BACK YOU BASTERD

Fug I used this for a few months in late 2019 - early 2020.
Am I at risk?

>>50411302
pls tell me this is fake. dumb or not these are human beings. yes they trusted to easily and maybe simple minded but this is no a reason for them to be scammed out of their savings. celisus is the bad actor here.

>>50411302
jesus christ I swear sometimes I'm glad I'm not these people

>>50411331
>>50411354

>>50410168
Kek god luck with that

>>50411302
>can't sleep over 45 ETH
dude was ngmi anyway

>>50411415
nobody believes you are rich enough where losing 50k would not be a big deal, sweetie

>>50411029
This isn't crypto, this is a joke. It's fitting that predditors would fall victim to it. Not your keys, not your crypto.
>>50410168
Also, they can't claw back shit. If I withdrew MY money from their shitty site before they went bankrupt then that's no longer anything to do with them. Who the FUCK do these retards think they are? It's legit making me furious just thinking about it. I'd go to the office of the person sending the demand and I'd fucking headbutt their stupid teeth out for having the unmitigated gall to be so fucking cheeky.

Good news everyone!

>>50410592

Ahahaha, no retard. They can not "claw back" any funds. If you deposited and withdrew then you just called your loan, you owe celcius nothing. If you borrowed and don't want to repay, because you can't withdrawal your collateral anyway, they still can't claw it back, because the contract is that your collateral would be liquidated to cover your debt if you didn't pay back. Its not on you if they lost your collateral. In fact they still owe you that deposit.

>>50411302
but defi is a scam cuz some things occasionally get phished or hacked!!!
HAHAHAHAHAHA
If you are going to trust a CEX with your money you are better off staying in fiat

>>50410592
> the (((bankruptcy court))) can still claw back the funds
Please tell me how they can actually do that if I just tell them to fuck off? What are they gonna do? Bring me to court?
> your honor, it is not fair that anon pulled his own money out before we could steal it from him because we stole it from other users.
It is embarrassing to even conceive of such a thing. I am a peaceful person, but these kikes will be lynched in the streets before they see a penny and they know it.

>>50412319
>I'm willing to put money on it

>>50412774
>What are they gonna do? Bring me to court?

Exactly.

The idea is that creditors should be fucked over equally in a bankruptcy and it's not fair if some were able to cash out before the shit hit the fan while others weren't.

But as mentioned, unless it was a significant amount that was withdrawn, it's unlikely the court would expend more money than the $1 in stamps and letterhead that it costs them to send you threatening notices.

>>50412477

All the rules go out the window when a bankruptcy court gets involved anon.

Anyone know why 'Celsius Network: Wallet 5' is Top 7 Gas Guzzler on ETH atm?

>>50412477
There’s an ongoing lawsuit alleging Celsius was a Ponzi.
Madoff’s clients who pulled their money out had to pay out to the others left holding the bag, so there is a precedent for this.

>>50411302
larp

>>50412319
>50% of your funds are safu
hahahahaha reddit goes on a rampage when?

>>50410168
Genuine question. How is that legal? I know laws/government is jewish, but that's a bit TOO jewish.

>>50413524
Madoff's depositors were too dumb to go on boating trips apparently.

>>50412774
>(())
>wants to be taken seriously in a discussion
grow up

>>50416519
the idea is that if you had insired info or something you should be investigated
i don't know how far it goes but within a certain timeframe if you withdrew you can be forced to give them back
but as other anons said this is a very hard thing to enforce and very costly for the court

I withdrew 2 days before the 90 day window began (April 12th). Approximately $70k worth of BTC and ETH at the time. Will I be harassed for this?

>>50416655
Feeling personally targeted Shmuli? Maybe it's time to tell your cousins to stop scamming people instead of getting mad at the goyim for noticing patterns.

>>50411326
Only if you have gay sex regularly

>>50411386
Cute larp

>>50413095
Kek. Force of habit.

>>50413333
Maybe they're buying that new shitcoin CUMRAG

>>50416519
Legal and lawful are polar opposites

>>50410168
Lmao I don't live in the JewSA they could suck my dick.

>>50413095
Lmao

what is going on itt what the hell is claw back? you mean to tell me they're going to try and take money from people who withdrew their money just because they went out of business? or do you just mean people with outstanding loans?

>>50418580
Yes basically. They are saying the funds didn't belong wholly to the person who withdrew them, because they were insovent at the time.

>>50410168
>Clawed Back
Not your bank, not your coin.

>>50416616
Lol. Lmao, even

>>50416655
>>(())
>>wants to be taken seriously in a discussion
>grow up
fuck off rabbi

>>50410168
I pulled 140k out of Celsius literally hours before they closed withdrawals but I left 68k in it because I didn't think it would actually happened. 0% chance I send any money back.

>>50410168
faggot redditors are going to 0. then saylor needs to get margin called. only then can there be relief.
>Furthermore; see pic

>>50416655
Npc or glowie?

>withdrew under 6k
I'm probably safe right?

>>50410168
>we can't give you back your money so we'll just take more of yours instead
how can any judge agree with this ever unless there is actual proof rigging the game through of insider information

>>50411386
hey I remember that thread.

>>50411029

>>50410995
Youre implying that 90% of crypto "investors" arent retarded.
These people dont know anything. They just see "Oooh, beeg numba, ohh big percentage, beeg gains"
And they hit the buttons.

>>50412319
>unsecured creditors
Nope reddit scum, youre going to be wiped out and Celsisus will use """"your"""" funds to pay their wages for as long as they can because this is the actual reason why they filed for chapter 11.

>>50410168
I had insider information that Celsius was insolvent. I didn't say anything to anybody else. I promised my source I wouldn't. I abide by a strict code of ethics and integrity.

I helped the best way I could by withdrawing all my money and moving any assets I had out of the reach of the US.

I'm sure you guys will be fine. Keep your chin up. You are valued.

>>50419649
sounds like there's some threshold which you're under. Anyone else will probably want to have withdrawn under 25k and be a non-US customer as they'd likely have to sue you in your own jurisdiction.

>>50416655

>>50410168
imagine thinking you can claw back the money from a ponzi scheme

>>50416655
what how he recoils, how injured he is...

>>50410995
actually this is a midwit take, banks dont work like this.
however those interest rates were still a blatant ponzi giveaway that only worked in a fuel rich environment like crypto

>>50422682
How do banks work then?

>>50423924
They steal the soul of the people using it and leech the lifeblood from the economy as they use government influence to entrench their dark institutions and squash innovation and competition.

If you lost funds on celsius, consider becoming a cndlchain dot com beta tester. They will reward you in crypto and you can stake it for another 20% or so APY. That's probably the quickest way to make up for time so you don't miss this bullrun.

>>50410168
proofs?

>>50410995
ledn is paying me 7.5% and the trustexplorer's proof of reserves still show the assets are there, what's not to trust?

Wait how do they expect to 'claw back'? Send a begging email?
>Just reverse the blockchain transactions lmao

>>50411354
>sometimes

If they drag one of you to court, can you please print out the meme about Jessica Khater being head of institutional lending, despite being a ditzy porn star who got a facial, as evidence that you removed your funds based on publicly available info? It'll be funny.

>>50410995
They lended the money at high interests rates to an hedge fund that went crypto only go up

>>50416655
Checked and tbqh, you reek of gefilte fish

>>50424538
I need the video now more than ever

>>50423924
In your best interest of course

I don't quite get why you would trust a shady CEX led by a kike more than on-chain dapps/smart contracts

>>50411017
like a bucket of crabs.
>t. toxic family and friends holding you back.

>>50410516
nope
1 year if you had insider info
90 days for all creditors even those with no insider info
and if the lawyers can prove that Celsius was operating as a bonifide ponzi those 90 days can be extended to a much longer time frame

>>50424538
oh no mrs. khater. you were forced to do this porno.
https://www.youtube.com/watch?v=qj-jpYRwApU

>>50418806
Touch grass

>>50410168
This pretty much sums up the Redditor attitude. Unable to take responsibility for their actions and want everyone to be dragged down with them. This clawback won't happen it's a demented Reddit fantasy similar to how they want anyone successful to be destroyed or anyone unvaccinated to die.

>>50410995
I didn't put any money into Celsius so I didn't bother doing any research on it. But the interest that leverage traders pay by far exceeds 10% annually. I just assumed Celsius took depositors money and was lending it out to leverage traders for 15-20% annual interest and pocketed the 5-10% difference

>>50416519
it's not, just another leddit fantasy /biz/lets think is true.
clawback is very rare, and even when courts do it, it's not possible to sue for the principal.