Celsius Network Sues StakeHound for $150M Token Withholding

StakeHound Faces Legal Action by Celsius Network Over Token Dispute

Crypto lender Celsius Network has initiated a lawsuit against liquid staking platform StakeHound for allegedly withholding $150 million worth of tokens. Celsius seeks the return of 40 million MATIC, 66,000 DOT, 25,000 staked native ETH, and 35,000 ETH. Celsius claims that StakeHound demanded arbitration and refused to exchange native ETH for stTokens, violating the US Bankruptcy Code. Celsius asserts that StakeHound should return the tokens and compensate for damages resulting from contractual breaches.