Bankrupt crypto lender Celsius is suing Switzerland-based liquid staking platform StakeHound for allegedly failing to return $150 million worth of crypto assets in Ether (ETH), Polygon (MATIC), Polkadot (DOT), and other tokens.
Celsius claimed that it entrusted StakeHound with 40 million native MATIC tokens (worth approximately over $30 million at recent prices) and 66,000 DOT tokens (worth more than $300,000 at recent prices) for staking in April 2021 for the staking platform’s liquid staking “stTokens.”
Celsius Sues StakeHound
In a new filing with the US Bankruptcy Court for the Southern District of New York on Tuesday, Celsius further accused StakeHound of “wrongfully” withholding or otherwise “depriving” the crypto lender of possession of all of these valuable assets.
Besides failing to turn over certain tokens, StakeHound allegedly filed an arbitration agreement against Celsius to seek declaratory relief in Switzerland after it was confronted about its breaches of du
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