Celsius Network Fights Back: Set to Take Legal Action Against Fuming Creditor

"Celsius Network to Pursue Legal Action Against Crypto Blogger Tiffany Fong for Alleged Internal Information Leak"

Celsius Network, the bankrupt crypto lender, is reportedly planning to take legal action against crypto blogger Tiffany Fong for allegedly leaking internal information. Fong shared a screenshot of a financial statement that contained 51 different parties on Celsius Network’s list, of which she was the only individual among corporate entities. In response, Celsius Network’s legal counsel submitted an invoice for $72,476 linked to “Tiffany Fong Litigation.”

Fong has been actively reporting on the unfolding events of the Celsius collapse via her YouTube channel and other social platforms. She claims to receive leaked internal information from disgruntled insiders at the defunct company. According to a screenshot she shared, Fong has roughly $119,000 worth of crypto assets locked in Celsius, including $94,568 worth of BTC, $24,306 worth of ETH, and $439 worth of MATIC.

Since the Celsius Network went bankrupt in June 2022, Fong has reportedly posted over 20 critical videos about the company. Her activities have attracted attention from the media and even U.S. politicians, including a mention of her interview with Sam Bankman-Fried (SBF) at the U.S. Congress. Initially, Fong only sought to express her frustration over lost funds due to the Celsius collapse. However, her postings over the Celsius Network debacle have snowballed into a media campaign.

While there is no confirmation of legal action yet by Celsius against Fong, the filing shows that Celsius’ legal counsel was looking into the leaked information Fong reported using her social media accounts. The Celsius collapse left users stranded over locked funds, and Fong has been one of the focal characters of the incident.

The crypto industry has seen several high-profile legal battles in recent years, and Celsius Network’s potential legal action against Fong adds to the list. The case will likely attract attention from the media and the crypto community at large. It remains to be seen how this case will conclude, but it highlights the importance of protecting confidential information and the consequences of leaking such information.

Martin Reid

Martin Reid

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