Report by Celsius Network shows that there is a $2.85 Billion balance gap

According to a new bankruptcy report, Celsius’s actual debt is $2.85 Billion. This compares with their bankruptcy filing claims for a $1.2 Billion deficit.

According to the latest report, net liabilities of $6.6 billion are shown and total assets under management is $3.8 billion. The firm filed for bankruptcy in September and showed assets of $4.3 billion against liabilities of $5.5 billion, a deficit of $1.2 billion.

According to the coin report, the company lost 62.853 BTC from the 100,669 Bitcoins ( BTC ) that investors had deposited and now has only 37.926 BTC. Wrapped Bitcoin (WBTC), currently accounts for 64% of the company’s BTC debt.

After becoming one of many crypto lenders that succumbed to crypto contagion, the company filed for Chapter 11 bankruptcy July 14.

Related: Celsius lawyers claim that users have given up their legal rights to crypto

Simon Dixon, a crypto entrepreneur who was interested in the Celsius case and had previously stated that the balance gap between the crypto lender and their claims of $1.2billion is $3BILLION, took to Twitter to highlight the new findings. He stated that the gap was revealed and that Celsius was misleading people and “making up numbers”.

Although many crypto experts have criticized Celsius’s plans for the native token, the community rallied behind the crypto lender in hopes of regaining some of their funds. Due to the community-driven short squeeze, the native token’s price has risen several times since the bankruptcy. Many account holders aren’t certain they will be able to get their money back, but the latest findings appear to have discouraged them.

Opinion writer on 7trade7