Celsius files lawsuit to recover $150M from staking platform StakeHound
1 min read
Bankrupt crypto lender Celsius Network has filed a lawsuit against liquid staking platform StakeHound after the company allegedly failed to return $150 million worth of tokens owned by Celsius.
According to a court document
Last year, it was reported that Celsius lost 35,000 ETH when StakeHound lost private keys for a total of around 38,000 ETH. The firm argues that it has been relieved of its obligation to pay back these assets.
[DB] Celsius Lost 35,000 ETH When Stakehound “Misplaced” Private Keys
— db (@tier10k) July 14, 2022
Since its bankruptcy filing almost a year ago, Celsius has been trying to make an effort to restructure. On Feb 15, Celsius presented a restructuring plan that pushes for the creation of a public platform owned by Earn creators which will be sponsored by digital asset investment firm NovaWulf.
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