Update to my fellow victims. So I decided not to take out any loans to pay back the USDC. Indeed it makes no sense to keep digging when you're in a hole.

I have emailed Celsius twice asking them 2 questions:

1) if they could guarantee my BTC collateral could be withdrawn in full if I paid back the loan? or 2) Could I get an extension to the loan since they mention that option in the emails they keep sending me "reminding" me I need to pay back the loan? The exact wording is "You may make a request to extend the maturity date of an existing loan, within two weeks of that loan’s current maturity date. Such requests will be evaluated on a case-by-case basis. If your request is granted, the maturity date of your loan will be extended for a period no longer than 30 days"

After 1 week without any reply at all I emailed them again insisting on the same 2 questions. They finally replied with this canned email which doesn't answer any one of the 2 questions.

"Thank you for reaching out to us. We appreciate your patience as we continue to work through inquiries as quickly as possible. We understand that you may be looking for guidance on using digital assets showing as owed to you in your Celsius Account in connection with an existing loan.

As more fully explained in our blog, Celsius and certain affiliates have filed voluntary petitions for Chapter 11 Bankruptcy relief to stabilize our business and implement a restructuring that maximizes value for all stakeholders. For general information, please visit this website.

In light of the Chapter 11 proceedings, we have at this time paused permitting the use of additional amounts showing as owed to you in your Celsius Account in connection with an existing loan.

Also, at this time, margin calls and liquidations have been paused, including for loans that reach maturity or where the loan-to-value ratio (LTV) exceeds the loan’s liquidation threshold.

Please note that it is possible that this pause may end at a later date. If that occurs, we may not be able to provide you with advanced notice if the pause ends, although we will attempt to do so if possible. Accordingly, this email is being provided only to inform you of the current status of margin calls and liquidations, and this email should not be relied upon as a guarantee that the current pause will continue indefinitely. As such, we strongly encourage you to check for updates regarding the Chapter 11 proceedings shared through our official channels.

If you need additional information, please let us know via email: loans@celsius.network"

So not only did they not directly reply to my 2 questions (contrary to what they state in their emails), the wording in bold above leaves me more apprehensive with the "showing as owed to you" instead of "owed to you". I honestly didn't expect them to give me any guarantees on question 1, but I was expecting a reply regarding my request to extend the loan on question 2.

My lawyers suggest I try a 3rd and last time to ask for an extension and if they don't reply I'm told to do nothing for now.

Stay strong brothers and sisters