A US federal judge dismissed most claims brought against Chainalysis by Celsius Network’s litigation administrator but allowed one aiding-and-abetting claim to proceed. The surviving claim alleges Chainalysis helped Celsius insiders breach their fiduciary duties by helping disseminate a 2020 press release presenting a calculation of approximately $3.3 billion in assets as an audit. Celsius filed for bankruptcy in July 2022, freezing customer withdrawals and leaving about $4.7 billion in assets inaccessible. The $3.3 billion figure resulted from methodology changes that inflated the initial calculation of $1.18 billion made using Chainalysis Reactor software. The lawsuit is part of the estate’s effort to recover funds for creditors.
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