Celsius Network, one of the most popular cryptocurrency lending platforms, is in hot water. Last week, it was revealed that the company had been engaging in fraudulent activities, including charging customers hidden fees and manipulating cryptocurrency prices.
Now, the situation has gotten even worse. A class-action lawsuit has been filed against Celsius, alleging that the company has engaged in a massive cryptocurrency fraud. The lawsuit alleges that Celsius has been manipulating the prices of cryptocurrencies in order to generate profits for the company.
The lawsuit also alleges that Celsius has been charging customers hidden fees on their deposits, and that the company has been using the fees to fund its own operations.
The lawsuit seeks to recoup losses for the victims of Celsius’ fraudulent activities. It also seeks to impose punitive damages on the company for its actions.
If the lawsuit is successful, it could be a major blow to Celsius and its reputation in the cryptocurrency industry. In the meantime, customers of Celsius should be cautious when using the platform, as the company’s activities are still under investigation.