Celsius Seeks Return of $2 Billion Withdrawn Before Bankruptcy

Advisers overseeing the wind-down of Celsius Network LLC are demanding major customers who collectively withdrew more than $2 billion from the crypto platform just before it filed bankruptcy return those funds to avoid potential litigation.

An oversight committee formed during Celsius’s Chapter 11 case has begun contacting customers who withdrew more than $100,000 from the platform in the lead-up to the company’s July 2022 bankruptcy. Assets recovered through this process will help repay creditors who didn’t withdraw funds from Celsius, according to a letter the committee is sending targeted customers.

The committee said the recovery process will only affect about ...