Letters to the federal judge handling the Celsius Network bankruptcy case offer the fullest picture to date of how ordinary investors all over the world have been burned by the U.S. cryptocurrency-lending startup’s stunning collapse. 

Celsius, which is backed by the Caisse de dépôt et placement du Québec, filed for bankruptcy on July 13, a month after it suspended withdrawals, preventing customers from accessing billions of dollars worth of crypto. At the time, the company said the Chapter 11 filing was the best way to stabilize the business and protect customers. Through the bankruptcy process, the court will determine how much of their assets customers will get back.

Here are excerpts from five Celsius customers on how they say they’ve been impacted. 

• Kevin Montford, U.S.: “My entire business is secured and backed by these funds. If they are not returned, my business would go bankrupt, my 15 employees would be let go, and 14 years of my life’s work lost and at the age of 49 years old, I would have to start over with nothing. The thought of losing this money has left me depressed, suicidal, and without words.”
• Sean Moran, Ireland: “I’ve lost my farm here in Ireland, family are left homeless. I’m mentally unstable. Family are distraught with my decisions of trusting Celsius and promising them a better future.”
• Andrew Jarrett, U.S.: “I joined Celsius Network earlier in the year and had deposited $15,000. Everything I had remaining for a purchase of a home for my two children and wife here in Southwest Florida. I trusted Celsius so explicitly due to [Celsius CEO] Alex Mashinsky constantly broadcasting what I thought were truths and axioms that the company and himself lived by. How clearly I was wrong.”
• Stephen Richardson, U.S.: “I am embarrassed, ashamed, and disgusted by the utter lack of transparency from a company that claims to be an ‘open book’ and highly transparent compared to any and all banks. I currently have six figures worth of crypto locked in my Celsius account unable to be withdrawn, despite Alex’s claims mere hours before withdrawals were closed that nobody has any issue withdrawing from Celsius.”

• Sainath Koppula, U.S.: “Alex lied to us every Friday saying company is in good standing and we don’t need to be concerned about the money we invested. I come from India to make American dream a reality and in the process, I worked hard and there are weeks that I worked for 84 hrs. a week just to make some savings, buy a home and build a life here. But all I get is disappointment.”