Celsius Network LLC et al v. Chainalysis Inc.: Allegations of Misconduct in a $3.3B Audit
Celsius Network LLC, along with its affiliated entities located in Delaware and England, has lodged a complaint against Chainalysis Inc. The lawsuit claims that Chainalysis played a role in what is described as a major fraud within the cryptocurrency sector, specifically concerning Celsius’s substantial financial mismanagement. The case is currently being heard in the U.S. Bankruptcy Court for the Southern District of New York. The involved parties are Celsius Network LLC, Celsius Network Inc., and Celsius Network Limited, represented in court by the Blockchain Recovery Investment Consortium, LLC, which is serving as the Complex Asset Recovery Manager and Litigation Administrator.
Details of the Complaint and Legal Proceedings
The legal documentation consists of 58 pages and was filed on March 22, 2025. In this case, Celsius accuses Chainalysis of assisting in activities that led to significant losses for investors, implicating the firm in what they allege to be one of the largest scams in the history of cryptocurrency. The case reflects ongoing concerns regarding transparency and accountability within the crypto market, especially in light of recent high-profile collapses and bankruptcies.
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