Institutional lockout — Celsius (2024)

A recurring practical obstacle for Celsius distributions in 2024 was the claims portal itself. Creditors who had not logged in since 2022, whose email addresses were outdated, or who had difficulty with the identity verification process found themselves unable to claim distributions on the expected timeline. Stretto, the claims administrator, published a knowledge base of instructions and warned of active phishing campaigns impersonating the Celsius claims process—a layer of fraud that exploited the complexity of the legitimate claims procedure and caused some legitimate creditors to delay or avoid the process.