Celsius aims to sue a creditor for leaking internal information

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Key takeaways:

  • Tiffany Fong, a crypto blogger and a creditor of Celsius, is purportedly in the process of being sued by Celcius for disclosing internal information.
  • She currently has almost $119,000 in crypto assets locked on Celsius, per a screenshot provided by Fong.

According to reports, Tiffany Fong, a crypto blogger and creditor, may face legal action from Celsius Network, a defunct crypto loan company. The dispute centres on Fong’s alleged disclosure of confidential material, which she claims to have done after receiving tips from former Celsius workers.

Fong revealed in a screenshot that she has crypto assets worth over $119,000 locked on the platform. According to the screenshot, the same sum now includes Polygon (MATIC), Ether (ETH), and Bitcoin (BTC) as a result of the withdrawal freeze that was implemented in June of last year. Since then, Fong has been closely covering the Celsius bankruptcy case on YouTube and other social media channels.

Since then, she has posted frequent updates on YouTube and other social media platforms about the status of the bankruptcy case. Fong regularly releases stolen company information, which she says disgruntled former Celsius employees gave to her in confidence.

The law firm also stated in the document that it was drafting cease-and-desist letters for Fong and a petition to compel, which often asks courts to compel the production of evidence that is necessary to prove a case.

Among other things, Fong has written about significant transactions involving former CEO and founder Alex Mashinsky, significant audio recordings of private company meetings, and leaked internal documents relating to corporate bids for Celsius assets.

Kirkland & Ellis International, Celsius’ legal representative, stated in an itemised sixth monthly fee statement submitted to the Southern District of New York bankruptcy court on April 14 that it had spent 77 billable hours, or roughly $72,000, on an invoice labelled “Tiffany Fong litigation.”

Fong is present at the 2023 NYC NFT event in New York, which heightens the tension. She reported on April 15 that she approached Alex Mashinsky and his wife Krissy Mashinsky after seeing them in the street. 

The ongoing conflict between Celsius Network and Tiffany Fong sheds attention on the difficulties of upholding confidentiality in the digital age and the potential legal repercussions of disclosing private information.

Even while an identifiable legal action doesn’t seem to have been created as of yet, the document shows that Celsius’ legal counsel was specifically looking into the confidential data that Fong reported on via her social networking sites.

The filing by Celsius Law Firm also contained cease and desist letters for Fong and a motion to compel, which frequently asks courts to execute a request for information relevant to a case.

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Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

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