Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #5831512
Complaint Overview
Complaint ID: 5831512
Company: Celsius US Holding LLC
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Money was not available when promised
State: New York
ZIP Code: 11226
Date Received: 2022-08-01T12:00:00-05:00
Date Sent to Company: 2022-08-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Celsius Network LLC paused all customer funds withdrawn on XX/XX/XXXX. The company stated multiple times they should never do that and even did this before filing for bankruptcy before XX/XX/XXXX, so customer funds would be forced to be stuck in bankruptcy holding. This is a blatant false advertisement, and they would not even allow custody accounts to withdraw funds even though the money is not earning any yield. I have approximately XXXX XXXX stuck in custody, and I have a loan with Celsius for XXXX XXXX that I can not pay and withdraw funds from. My collateral is attached, yet they ask publicly via email to wire them more money without any promise to give collateral back on XX/XX/XXXX. This seems like an extortion of funds, and they are praying in fear for their customer to send them more funds. You can not even use your custody account to pay for your loan. If I have to give a failed company more money to pay off a loan, we may never access the funds ever again. This is a failure of legitimate business practices. There is a lot of fraud and abuse of customer funds that Celsius Networks owes its honest clients. XXXX XXXX XXXX XXXX - XX/XX/XXXX XXXX PM Dear XXXX XXXX This is to confirm that we have received an interest payment on your loan. Payment Date : XX/XX/XXXX XXXX PM Interest Amount Paid : XXXX XXXX XXXX XXXX XXXX in USD : {$11.00} Discount : {$0.00} Currency : XXXX Loan Number : XXXX Loan Amount : XXXX XXXX XXXX : 1.00 % Total Interest Outstanding : {$100.00} Next Interest Payment : {$11.00} Origination Date : XX/XX/XXXX XXXX AM Maturity Date : XX/XX/XXXX XXXX AM Current Collateral Balance : XXXX XXXX XXXX XX/XX/XXXX XXXX Transfer XXXX XXXX XXXX Yes XXXX XX/XX/XXXX XXXX Transfer XXXX XXXX XXXX Yes
Frequently Asked Questions
What is Complaint #5831512 about?
Complaint #5831512 was filed against Celsius US Holding LLC regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2022-08-01T12:00:00-05:00.
How did Celsius US Holding LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Celsius US Holding LLC?
Yes, visit the Celsius US Holding LLC company profile at readthecomplaint.com/company/celsius-us-holding-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.