Coinspeaker
Celsius Network Files Lawsuit against StakeHound
Bankrupt crypto lender Celsius Network has filed a lawsuit against liquid staking platform StakeHound, accusing the platform of failing to return approximately $150 million worth of tokens. The tokens in question include popular cryptocurrencies such as Ethereum (ETH), Polygon (MATIC), and Polkadot (DOT) amongst others.
In a recent court filing, it has been revealed that Celsius had entrusted StakeHound with a substantial amount of tokens in 2021. The filings stated that Celsius exchanged these tokens, which were valued at over $150 million, for StakeHound’s liquid staking “stTokens”.
The specific breakdown of the tokens entrusted to StakeHound includes 25,000 staked native ETH, 35,000 native ETH, 40 million MATIC, and 66,000 DOT. Accordingly, Celsius is seeking legal recourse with specific demands from StakeHound, as indicated in the court filings.
Celsius stated that StakeHound should be compelled to return the tokens
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