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How to withdraw your frozen money from Celsius and other platforms legally — a step-by-step guide

Andrew Zhoao

News editor

Jun 16, 2022 at 03:06

CEO of Do Not Pay Joshua Browder has described how to get your frozen money back if the crypto exchange halted all withdrawals, swaps, and transfers. According to the expert, the method allows you to do it legally and can be used on almost any platform if you have $15k to $25k on your account. Let’s see how to do it.

Step-by-step guide

According to Joshua, as of right now, exchanges have not yet filed for bankruptcy protection. Therefore, they are subject to small claims court judgments. Small claims court cases typically take 1–2 months. Here’s what you have to do. 

1. To file a small claims lawsuit, the first step is to send a demand letter. The demand letter should say:

  • How much you are owed.
  • Why do you think you are owed the money.

For Celsius specifically, you should mail it (return receipt requested) to: 

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2. After ten days, you can file a small claims court lawsuit in your local jurisdiction.     

3. Many lawyers will say: “It’s in their terms of service. They can freeze the finds”. But if Celsius doesn’t respond, you win by default.

4. They are so busy that they aren’t going to send an executive to Denver, for example, just for your case. They have bigger problems to worry about (prison, class actions, etc.). Plus, a judge might still feel sorry for you based on the facts, even if they do show up. 

5. After winning your case, you will have a court judgment. You can go to any bank that holds the company’s money and to any of their offices and collect your judgment.

6. You can force any bank that holds their money to send you what you’re owed. To collect, file a collection order with your state’s small claims court. 

That’s all! 

“The more quickly you do this, the higher the chance you will get your money. Once Celsius files for bankruptcy, the lawsuits and collection orders won’t work. Until then, this is fair game”, — said Joshua Browder. 

The value of Bitcoin fell to $23k on 13 June. In a crypto crash, many exchanges decided to halt all withdrawals, swaps, and transfers, thus freezing the funds of many users. Now you know how to get your money back.

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