Bankrupt cryptocurrency lending firm Celsius Network has filed a lawsuit against Prime Trust over $17 million in tokens that were not returned on time.
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According to the document, Prime Trust did return around $119 million in crypto. However, the firm has failed and refused to transfer to Celsius another $17 million consisted of 398 BTC, 196,268 CEL tokens, 3,740 ETH and 2.2 million in USDC. Celsius says:
"Upon the commencement of these bankruptcy proceedings, Prime Trust was obligated under the Bankruptcy Code to deliver all property belonging to Celsius."
According to reports, Prime Trust stopped its partnership agreement with Celsius in summer last year due to "red flags." As of press time, Prime Trust made no official statement regarding the matter.
Celsius filed for bankruptcy under Chapter 11 of the US Bankruptcy Code in July this year with $167 million in cash and crypto assets worth $4.3 billion. It owes creditors $4.7 billion.
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