Some crypto traders are preparing to appeal the Celsius reorganization plan to challenge what they perceive as an "unfair" agreement that disproportionately favors Celsius Earn creditors over Celsius Loan creditors, sources familiar with the matter told The Block. This plan, they claim, has significantly diminished the recoveries for those holding debts from the lender's estate.

Creditors who took loans from Celsius are consulting with "several" lawyers regarding their appeal plans. One source informed The Block that they are attempting to recover some of the funds they used as collateral on the now-defunct platform.

Celsius Loan creditors have not specified when they will officially file the appeal, as they are still in the preliminary stages of preparing for the …