Celsius argued in the filing that the liquid staking platform should be required to immediately turn over Celsius' property.
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.by Celsius, the company placed 40 million Polygon , 66,000 Polkadot , 25,000 staked native Ether and 35,000 Ether . Celsius highlighted that these tokens are worth a total of $150 million.
In exchange for the tokens, Celsius received “stTokens” which they could deploy on other investments or return to StakeHound to get their crypto back. However, the recent filing alleged that StakeHound demanded arbitration against Celsius and argued that it"has no obligation" to exchange native ETH for the stTokens after it was confronted by its breaches of duty to Celsius.
In addition, Celsius also argued in the filing that “StakeHound should be required to immediately turn over Celsius’ property” and pay compensation for damages that arose from its breaches of contractual duties.Related:
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