Celsius, the New Jersey-based bankrupt cryptocurrency lending company, has countersued decentralized DeFi aggregator KeyFi and its CEO Jason Stone. It is claiming that KeyFi lost CEL worth millions of dollars through incompetence and deceit.
Celsius’s suit comes on the heels of KeyFi suing Celsius a few weeks back for allegedly failing to honour a profit-sharing agreement.that KeyFi CEO Jason Stone falsely represented himself as a pioneer and expert in coin staking and decentralized finance investments. However, KeyFi allegedly lost coins from Celsius wallets worth millions of dollars due to mismanagement and deceit. Celsius also alleges that KeyFi used these stolen coins to buy hundreds of NFTs and transferred them to its wallets.
Celsius also alleges in its lawsuit that Stone and KeyFi relied on the cryptocurrency mixer, Tornado Cash. Stone and KeyFi laundered millions of dollars of Celsius propertyby the U.S. Department of the Treasury due to its use in multiple money laundering cases.The suit also claims that in August 2020, Celsius and Stone agreed that Celsius would set up a wholly-owned subsidiary to acquire KeyFi assets and operate Celsius’s staking and DeFi activities with Stone as the CEO of that subsidiary.
In late March 2021, Stone replied that the KeyFi team would ensure the “complete return of all Celsius tokens managed by KeyFi by the end of April at the latest.”Celsius for allegedly not honouring a profit-sharing agreement and failing to pay KeyFi millions of dollars.and Celsius, requiring KeyFi to operate as Celsius KeyFi, a Celsius-owned subsidiary. Both the groups worked together during August 2020- March 2021.
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Source: CryptoAmb - 🏆 22. / 68 Read more »