Celsius, one of the most reputed crypto lending platforms, has gone bankrupt only recently. On top of that has hurt thousands of investors who potentially have millions of dollars embedded and stuck into the lending platform in the form of down payments.

The crypto market is only recovering from the waves of shocks that it has sustained over these past few months, and to top that, Celsius, a reputed lending platform, has gone bankrupt. Not only millions of dollars of working-class investors are gone for good the insurance claims that Celsius is showcasing to the affected seem fraudulent, to say the least.

Celsius’s Insurance Claims

Many investors have gone out on a limb to file a lawsuit against Celsius, and many are going after the founders of the platform with everything they have got. Scams and pyramid schemes are never good enough to sustain themselves, and at the end of the day, all that is left is deceit, deception, and moreover loss incurred to working-class people towards which founders have no affliction of any kind.

Dr. Jonathan Levy from the investors has recently referred to the claims of Celsius towards the insurance money as baseless and weary. It has been made clear by the good Dr. that the firm was engaged in the trading of fraudulent securities as well, part of the reason why the firm has gone down in the first place.

He also referred to the boilerplate print of the platform, which states that there is no insurance of any kind and these claims that the firm has had insurance all these years and that everything is going to be alright is nothing but a ruse to buy more time so that they can tie all the loose ends there are and fleeing themselves from the grasp of the investors as soon as possible. It is a lost cause, and investors have been kept in the dark by the platform.