Troubled crypto lender Celsius Network has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. In a statement, the firm said the filing follows “the difficult but necessary decision by Celsius last month to pause withdrawals, swaps, and transfers on its platform to stabilize its business and protect its customers.”
Ukrainian authorities have seized over 50 million hryvnias ($1.6 million), 830 kilograms of silver, six plots of land, and three apartments from alleged money launderers accused of funneling Russian funds using crypto.
Hacks against decentralized finance (DeFi) protocols have increased nearly eightfold compared to last year's first quarter, with over $1.22 billion being stolen or rugged from protocols in the first quarter of the year. Year-to-date exploits have already topped $1.8 billion.
Top stories in the Crypto Roundup today:
- Celsius Network Files for Chapter 11 Bankruptcy
- Ukraine Seizes $3 Million from Crypto Traders Accused of Funneling Russian Funds
- DeFi Exploits Surpass $1.8 Billion Year-to-Date
- Ethereum’s Falling Transaction Fees