The incident has raised serious concerns about financial transparency and fears that this public information could make Celsius users targets for harassment or theft. Opinion for 'The Node' newsletter, by danielgkuhn
Celsius Network, the bankrupt crypto lender, accidentally doxxed all of its users. Last week, more than 29,000 pages of court documents hit the servers, revealing the financial details of hundreds of thousands of users that kept money on the “neobank” Celsius.as Celsius winds its way through the Chapter 11 restructuring process after freezing customer accounts in July.
According to court documents, Celsius fought to prevent much of this information from getting out. In the end, users’ emails and home addresses were allowed to be redacted. One of the company’s arguments was that publishing this personal information would “reduce” the list’s resale value. “Sealing information such as that sought by the Debtors [Celsius] from public disclosure risks transforming the open and transparent bankruptcy process into something very different, which the Court is loath to do without a strong showing of real and not speculative risks,” Judge Glenn wrote in a September court filing.
It’s also arguable that the court’s demands here far exceed the norm. Typically, companies going through the bankruptcy process will have to expose a full accounting of their assets, which Judge Glenn here took to include Celsius’ custody books going back to July.
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