Federal Judge Dismisses Most Claims Against Chainalysis in Celsius Lawsuit
- A US federal judge dismissed twelve claims against Chainalysis, allowing one aiding-and-abetting claim to proceed.
- The surviving claim alleges Chainalysis assisted Celsius insiders in breaching fiduciary duties related to a misleading press release.
- Celsius filed for bankruptcy in July, freezing $4.7 billion in customer assets during the crypto market crash.
- The lawsuit centers on a claimed $3.3 billion “audit” conducted by Chainalysis using its Reactor software.
- Plaintiffs have until October 20 to amend three consumer-protection claims dismissed without prejudice.
The ruling is part of efforts by the Blockchain Recovery Investment Consortium, acting as litigation administrator for Celsius, to recover funds for creditors amid ongoing bankruptcy proceedings.
With the court allowing one claim regarding the alleged $3.3 billion audit to move forward, this case continues to highlight issues surrounding Celsius and its financial practices during its operational period.
