A few months ago, Mike Washburn’s cryptocurrency investment looked like a winner.
Now he’s just hoping to get his money back.
Mr. Washburn, a 35-year-old plumber in Otsego, Minn., had $100,000 in an account at Celsius Network LLC, one of the largest lenders in the cryptocurrency world. Recently widowed, Mr. Washburn said he and his two children moved in with his parents, and he planned to buy a house with his savings. The Celsius account offered him yield higher than would a traditional bank account, and the company was well-known in the crypto community.
On Sunday evening, though, Celsius said it was no longer allowing customers to withdraw cash from their accounts. On Tuesday night, The Wall Street Journal reported that Celsius hired restructuring attorneys to help handle its mounting financial problems.
Now, Mr. Washburn is anxiously waiting to hear what…
