According to a Twitter post by Celsius, “Celsius filed its Schedules of Assets and Liabilities and Statements of Financial Affairs with the Court, which includes details of customer claims.”
As part of the Chapter 11 bankruptcy procedure, the court ordered Celsius to produce its transaction information.
The now-defunct crypto lending platform filed a trove of documents in compliance. These over 14,000 pages of documents contained users’ names.
Announcing this in a tweet, Celsius stated,
“Celsius filed its Schedules of Assets and Liabilities and Statements of Financial Affairs with the Court, which includes details of customer claims.”
Celsius stated the information includes all customer account balances from July 13. This was when the restructuring process began. It contains customer transactions in the 90 days preceding the Chapter 11 filing. The document also contained the usernames, dates, and the transactions made on those dates.
The over 14,000 pages of documents hit the docket in the form of financial statements and schedules. It includes a Statement of Assets and Liabilities. This also contains creditors' names and the amounts they are set to claim from Celsius.
These documents are expected to provide insight into the financial moves made by the executives before the firm collapsed.
The Chapter 11 procedure is trying to be as transparent as possible. It seeks to provide more financial information about the company. However, this might be backfiring for users.
The users complain that the data leaks and breaches from other firms and the public information from the lending platform make them vulnerable to hacks, doxxing, and cyber threats.
Celsius argued that the names should be redacted as the filings hit the docket. It also argued that the information was not to be made public.
Martin Glenn, Chief Bankruptcy Judge, disagreed with Celsius. He compelled the lending platform to include the information in the final filings.
Glenn noted that while he was willing to redact address information, he might not do the same for the names.
Although Celsius's efforts to redact the names did not go through, it has assured customers of continuous hard work to protect account holders’ privacy.
