The unholy intersection of Celsius Network, Paxful, and Tether is making ‘crypto crime’ news—again

Earlier this month, the Celsius Litigation Administrator launched civil suits targeting former Celsius account holders. The suits are aimed at those who failed to repay funds withdrawn from the corrupt digital asset ‘yield’ platform in the 90-day window before Celsius went belly-up.

The Celsius bankruptcy saga continues to unfold, with the latest development being the filing of civil suits by the Celsius Litigation Administrator against former account holders who failed to repay funds withdrawn from the platform within 90 days of its collapse. The suits allege that these customers “unfairly benefitted at the expense of other account holders.”

Meanwhile, Paxful co-founder Artur Schaback has pleaded guilty to conspiracy to fail to maintain an effective anti-money laundering (AML) program at the digital wallet and peer-to-peer marketplace. The charges stem from Paxful’s operations between 2015 and 2019, during which Schaback “made Paxful available as a vehicle for money laundering, sanctions violations and other criminal activity, including fraud, romance scams, extortion schemes and prostitution.”

Finally, Tether’s involvement in Northern Data Group is coming under scrutiny following a civil suit filed by two former executives of the German firm. The ex-CEO/president and CFO of Northern Data US claim they were fired after raising concerns with their superiors about the company’s sketchier activities, including कथित प्रयास to evade paying tens of millions of dollars in taxes.