John Buzolits, a 35-year-old commercial real-estate broker in Philadelphia, opened a Celsius account in March for his bitcoin. Using bitcoin as collateral, Mr. Buzolits took out a loan of $62,500 in a stablecoin called USD Coin.
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In the wee hours of Sunday morning, June 12, Mr. Buzolits grew concerned and repaid his loan. He then proceeded to withdraw his six bitcoin, worth more than $170,000 at the time. The transaction got ensnared in a security check. He hasn’t gotten his bitcoin back.
Source: Celsius Customers Are Losing Hope for Their Locked-Up Crypto – WSJ
