Per week after it began its withdrawal freeze, crypto lending platform Celsius Network cautioned the city of a boost in fake social networking accounts claiming to become associated with the organization.
Inside a blog publish, the finance company advised the city to become more vigilant as there’s a rise in accounts which are “falsely purporting to become connected with Celsius.” Within the same publish, the firm announced that it’ll pause a number of its communication channels namely its Twitter Spaces and get-me-anything (AMA) sessions to pay attention to its ongoing liquidity and processes issues.
Furthermore, the firm has highlighted it’s working and contacting regulators concerning the withdrawals, swap and transfer pauses, and it is looking for a solution. However, the firm didn’t mention any updates on when its users can resume withdrawals of the funds.
Meanwhile, the Gamestop-style short squeeze movement for CEL on Twitter using the hashtag #CELShortSqueeze has trended in the industry and Finance category. Twitter users happen to be posting their CEL buys to exhibit their support for that project.
Bought some CEL at .40, SELL set to twentyDollar
Lets get individuals shorting whales liquidated, we could
— Zodiac (@Zodiacpl) June 19, 2022
Twitter user TheTwitOnline expressed their hopes that Celsius Chief executive officer Alex Mashinsky could notice the way the community is supporting the work, hoping that it is team works to provide CEL further value and utility.
Related: Crypto lending platform Babel Finance reaches counterparty debt agreement
On Monday, Simon Dixon, co-founding father of the internet investment platform BnkToTheFuture suggested a strategy to the Celsius debacle. Based on Dixon, the approach that Bitfinex used to cope with its infamous hack have been working and advised Celsius to behave similar.
Mike Bankman-Fried, the Chief executive officer of FTX exchange, denied rumors that principal buying and selling firm Alameda Research performed a hands in the present Celsius crisis. However, Bankman-Fried has noted that Alameda is trying to prevent further damage inside the crypto sector due to Celsius’ issues.
