Eugene Erlikh had about $25,000 in his account at Celsius Networks LLC last September when he borrowed $4,000 in a margin loan to buy cardano, a cryptocurrency.
The loan put the 32-year-old Los Angeles man in the wrong direction of one of the greats Crisis in the world of cryptocurrencies. On June 12, Celsius told users that it is suspending withdrawals and transfers. On June 18, Celsius said Mr. Erlikh would need to transfer to the company half of the bitcoins – worth about $10,000, or more than double the amount he borrowed – or face liquidation of his assets. your account.