Celsius creditors allege that some FTX users engaged in questionable trading. The price of Celsius tokens could be manipulated in 2022, with creditors seeking help from a bankruptcy judge to expose troubled users.
representatives of the board, creditors of the Celsius Network.pleaseWith permission from the bankruptcy judge to issue a subpoena to FTX, they are seeking information on users associated with 10 crypto wallets that may have been involved in the suspicious trading of Celsius’ CEL coin between April and August.
Creditors believe information from FTX will help them determine whether trading was legitimate or market manipulation, such as wash trading, a subpoena request is made in court documents filed April 26.
The board stated that Enlisted the help of Elementus, a blockchain consultancy. to identify suspicious transactions
“Elementus found 947 transactions involving a one-to-one correlation of CEL Token deposits and withdrawals during three days between 10 private wallets and 10 FTX-operated wallets.”
A committee representing Celsius Network’s creditors stated that the information they sought from FTX was critical in determining whether CEL-related trading was intended to inflate its price. no
creditors believe It is important to consider whether trading is legitimate or not. as it may be critical to the resolution of disputes related to Celsius’ bankruptcy.
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