On July 13, 2022, Celsius Network LLC and certain of its affiliates (collectively, the “Celsius Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.  The cases of the Debtors are pending before the Honorable Martin Glenn in the U.S. Bankruptcy Court for the Southern District of New York and are being jointly administered under Case No. 22-10964.

On November 9, 2023, the Bankruptcy Court entered the Findings of Fact, Conclusions of Law, and Order Confirming the Modified Joint Chapter 11 Plan of Celsius Network LLC and Its Debtor Affiliates (the “Confirmation Order”), pursuant to which the Bankruptcy Court approved and confirmed the Modified Chapter 11 Plan of Reorganization of Celsius Network LLC and Its Debtor Affiliates (the “Plan”).

Notice Regarding Completed Distribution Communications and Ongoing Phishing Attempts

On April 25, 2025, the Post-Effective Date Debtors began sending emails, as further detailed in the Notice Regarding Completed Distribution Communications and Ongoing Phishing Attempts to creditors who have Claims in Class 4 (Convenience Claims), Class 6A (General Custody Claims), or Class 6B (Withdrawable Custody Claims) who have fully redeemed their distributions under the Plan.

The Post-Effective Date Debtors are aware of continued phishing attempts purporting to be related to these Chapter 11 Cases. For example, creditors have reported emails  purportedly from Celsius or Stretto asking them to log into a “claims portal” to provide their wallet information and receive their distribution. Many of these emails state that the distribution will be made in USDC or ether. These emails also include a one-time passcode or authorization code to access the “claims portal” or support ticket system.

For the avoidance of doubt, the second distribution will only be made in bitcoin or Cash.

Celsius is not making distributions directly to creditors’ wallets and also does not send a one-time passcode or authorization code as part of an email informing a creditor of their distribution status. Rather, the one-time passcode used to log in to the legitimate Celsius Claims Portal is sent when a creditor takes the affirmative action to log in to such portal.

Please review the instructions set forth in Effective Date Notice above, on the Debtors’ Celsius X account @CelsiusNetwork, and on Stretto's Celsius Distributions Knowledge Base (the “Knowledge Base”) for further information and continuing updates. The Knowledge Base will continually be updated with the latest information.

Plan Administrator's Update on Cash Distributions, including Notice of Amendment to Paypal Distribution Services Agreement to Make Cash Distributions Through Hyperwallet Service

Effective Date Press Release

MiningCo Common Stock FAQ

Notice to Account Holders Regarding Frequently Asked Questions About Celsius Distribution

Notice Regarding Commencement of Distribution of Cryptocurrency to Holders of Custody Claims

Notice to Account Holders Regarding Forthcoming communications About Setttlement of Withdrawal Preference Exposure Pursuant to the Account Holder Avoidance Action Settlement

Notice to Holders of Retail Borrowers Deposit Claims Regarding Forthcoming Notice and Election Form for Repayment or Refinancing of Retail Borrower Deposit Claims

Notice of Commencement of Second Plan Distribution