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Crypto Scammers: Celsius Receives Cash Infusion From Prime Trust

It’s been just revealed that the crypto lender Celsius received cash infusion from Prime Trust, as scammers are targeting the customers. Check out the latest reports below.

Celsius gets cash infusion

It’s been just revealed by the online publication Blockworks that the court documents show the story of defunct crypto lender Celsius has a new “wrinkle”: scammers impersonating lawyers involved in its Chapter 11 proceedings.

The attempted scams are the latest trouble for Celsius. Just in case you don’t remember, the exchange halted withdrawals and related customer activities in July, citing “extreme market conditions.”

“Our ultimate objective is stabilizing liquidity and restoring withdrawals, [swaps], and transfers between accounts as quickly as possible,” the company wrote in a blog post at the time.

The same notes continued and revealed this:

“There is a lot of work ahead as we consider various options, this process will take time, and there may be delays.”

The same online publication mentioned above notes that in its latest setback, attorneys for Celsius said in court filings earlier this week that a some unidentified actors have been reaching out to its creditors. They were repoirtedly posing as Kirkland & Ellis attorneys.

“The attempts, largely carried out over email, seem to have been intended to persuade customers — whose accounts have been frozen for months — to hand over sensitive information in a bid to gain access to their accounts,” Blockworks notes.

Back in October, we were revealing that court documents revealed that bankrupt crypto lending platform Celsius faced a federal investigation as well as inquiries in 40 US states.

According to a recent filing, Celsius is now placed face to face with “significant” number of investigations by government entities. It’s also been revealed that it could face charges and fines for allegedly mismanaging customer funds.

Stay tuned for more crypto reports, and make sure to keep your eyes on the market.

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