Celsius lawyers claim users gave up legal rights to their crypto

Celsius-1.7 million registered users in more than 100 countries have given up titles in crypto that they have deposited into earnings and loan accounts, according to the firm's lawyers.

At the first bankruptcy hearing for Celsius on July 18, lawyers from the Kirkland law firm led by Pat Nash detailed how retail users of earning and lending accounts transferred title to their coins to the firm in accordance with their Terms of Service (ToS). As a result, Celsius is free to use, sell, mortgage and redefine those coins