Crypto lender Celsius Network has taken legal action against former client and crypto blogger Tiffany Fong for allegedly disclosing confidential trade secrets.
Fong has posted over 20 videos on YouTube and other social media platforms criticizing the company since June 2022, according to Celsius.
The company claims that Fong has revealed insider information shared with her by former Celsius employees who were unhappy with the company, including details on offers to purchase Celsius assets, audio recordings of commercial negotiations, and alleged executive transactional activities, including those of former CEO and founder Alex Mashinsky.
Celsius has hired lawyers from Kirkland & Ellis to prepare a civil lawsuit against Fong for a data breach that it claims has negatively impacted the company’s reputation and business.
The crypto lender intends to seek a court order to prevent Fong from publishing any information related to Celsius.
Fong denies any wrongdoing and asserts that she has not violated any non-disclosure agreements regarding information related to Celsius.
In response to the accusations, Fong stated, “I had no intention of applying pressure, becoming an influencer, a citizen journalist, or anything else.
I lost a significant amount of money personally due to Celsius Network and was extremely upset, so I had to express my emotions somewhere.”
Recently, Celsius informed US deposit account holders that a portion of their funds had been unfrozen, and the withdrawal process had begun.