Crypto Lender Celsius Network Sues StakeHound for $150M Token Mishap!
Bankrupt Celsius Network has taken legal action against liquid staking platform StakeHound after the latter "misplaced" tokens worth a whopping $150 million! 😲
Celsius claims that StakeHound failed to return 40 million MATIC, 66K DOT, 25K staked Eth, & 35K ETH. Apparently, Celsius received "stTokens" in exchange, hoping to deploy them elsewhere or retrieve their precious crypto. However, StakeHound's demand for arbitration and refusal to honor their obligations left Celsius fuming! 🔥
Celsius argues that StakeHound's arbitration filing violates the United States Bankruptcy Code, and insists on the immediate return of their property and compensation for damages. Meanwhile, both parties remained silent when approached for comments.
