The liabilities of crypto lending platform Celsius Network exceed its assets by $2.85 billion, according to an updated estimate on Aug.

The first indicator is $6.67 billion, the second is $3.83 billion. Out of a total of 100,669 BTC trusted by investors, the company lost 62,853 BTC. The “wrapped” version of the cryptocurrency accounts for almost two-thirds of the total debt.

On July 15, the company reported that its capital shortfall did not exceed $1.2 billion.

The published information threatens additional problems for the Celsius Network. The data confirms concerns that the platform’s management may deliberately mislead creditors and provide false information to the court.

People got mad at me when I said #Centigrade a lot is missing #Bitcoin and they make up fake numbers $CEL values. They confirmed that they lost 67,147 #BTC & $WBTC representing 64% #BTC debt. Assuming they can drain all of the $438 million hole $CEL for $1 pic.twitter.com/KEQg7iu9bP

— Simon Dixon (Beware of Copycats) (@SimonDixonTwitt) 15 August 2022

On July 13, Celsius filed for Chapter 11 bankruptcy in New York court.

On July 19, the company submitted a business restructuring plan. It includes the direction of a subsidiary mining company’s profit to compensate for losses of users and payments to creditors. Before that, Celsius Mining SEC application for public offering.

On August 12, it became known that the Celsius Network creditors committee at a bankruptcy court meeting banned the company from selling some of the mined bitcoins.

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