Another dark chapter in crypto history is coming to an end. Celsius has completed disbursements to its creditors, according to official information.

The trustee of bankrupt crypto-lender Celsius has distributed several billion dollars to about 251,000 creditors. This emerges from court documents published on Aug. 26. The payouts were made in crypto and cash based on the January 16 exchange rates. About two-thirds of all entitled creditors of the crypto borrower would have been compensated this way, covering about 93 percent of the debts.

Still, 121,000 entitled creditors remained without a payout. These have not yet successfully applied for their payouts, it said. "About 64,000 of these remaining creditors have received payouts of less than $100, and about 41,000 others have received payouts between $100 and $1,000," the documents said. According to the trustee, the small amount is one reason why some creditors have not yet come forward.

According to court documents, the payout is now officially considered complete. A New York court had agreed to the plan in late January of this year. In the seven months since then, "the distribution process as envisioned in the plan is probably the most complicated and ambitious [...] ever attempted in a [bankruptcy proceeding]," the documents say.

The global spread of numerous creditors, as well as the unresolved regulatory status of Celsius, added to the complexity of the distribution process, the documents show.

After a bank run in July 2022, the loan servicer had to file for bankruptcy. The then CEO, Alex Mashinsky, will soon have to appear in court in the US. He is accused of misleading investors.

Meanwhile, the bankrupt loan service is trying to obtain additional funds. For example, it recently issued a lawsuit filed against stablecoin provider Tether, from whom Celsius claims $3.5 billion.