Celsius sues the liquidity staking platform StakeHound to recover $150 million in crypto assets

ChainCatcher news, the bankrupt crypto lending company Celsius is suing the liquid staking platform StakeHound, accusing the platform of failing to return $150 million worth of ETH, MATIC, DOT, and other tokens.

According to court documents, Celsius entrusted StakeHound to stake 60,000 ETH, 40 million MATIC, and 66,000 DOT in 2021. A court filing submitted to the U.S. Bankruptcy Court for the Southern District of New York states that after Celsius's bankruptcy, StakeHound initiated an arbitration agreement against Celsius in Switzerland, arguing that Celsius had no obligation to exchange stTokens for other tokens. StakeHound also claimed to have lost 35,000 keys related to Celsius's ETH, thereby absolving itself of the obligation to return these tokens.