I saw someone on Twitter complaining Celsius had auto liquidated them while they were sleeping. They seemed to be under the impression Celsius would give them 24 hours notice. I want to confirm for my own comfort this isn't the case. It would appear not in the case of this particular user, but what is the actual Celsius policy.
Lets say someone takes a $50K loan and put down $100K worth of Bitcoin as collateral. Bitcoin suddenly crashes 60% in an hour due to a black swan event. Does Celsius liquidate before the value of the Bitcoin drops below $50K, even if it means the borrower doesn't have a chance to top up their collateral, or pay off the loan?
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