Celsius Has Countersued DeFi Protocol KeyFi Claiming Incompetence And Deceit Caused Tens Of Millions In Losses

On Tuesday, Celsius (a bankrupt lending platform) countersued KeyFi – a protocol based on decentralized finance (DeFi) – as well as its CEO named Jason Stone in the Bankruptcy Court based in the United States. The charges leveled by Celsius against the defender were that Stone falsely presented himself to be an expert in the field of decentralized finance and that the tokens of Celsius have been lost by KeyFi via deceit and incompetence.

Celsius Responds KeyFi with a Countersuit for Millions of Losses Due to Trickery and Inability

The respective lawsuit is witnessed many weeks following the initial case in which KeyFi charged Celsius for reportedly failing to abide by a profit-sharing contract. Celsius was provided DeFi strategy and staking services by KeyFi. As per the Celsius lawsuit, an amount of several million dollars has been stolen by the defendants in tokens from the wallets on Celsius.

In addition to that, Celsius claims that many non-fungible tokens (NFTs) were purchased by KeyFi with the tokens taken from Celsius without the venue’s permission and then relocated to the wallets in their possessions in advance of trading a few in return for seven-figure gains (which they collected).

It also asserted that the defendants supposedly purchased an interest in the rest of the crypto platforms via Celsius tokens and Tornado Cash (a privacy protocol that recently got prohibited by the Treasury Department of the United States) was utilized by them to conceal their operations. In this case, both the parties are plaintiffs and declare that several million dollars had been lost by them through the gross negligence of the respondents.

Along with this, several million dollars have also been lost dealing with the converted assets, according to the claims. Apart from that, Celsius was of the view that KeyFi remained unsuccessful in returning the funds when it received requests about this and made hilarious confronting assertions along with sharing a Twitter post regarding this.

Celsius Accuses KeyFi’s CEO of Spreading Wrong Narrative

They also stated that according to his intentions, Stone’s Twitter thread paved the way for sensational reports on media to mount the false narrative. Celsius was sued by Celsius on 7th July, as the claims disclose, it turned out to be ineffective to accomplish an agreement with the plaintiffs to provide gains following the staking as well as the DeFi strategizing operations of KeyFi.

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