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Cardano Investor Loses ADA Worth More Than $25 Million to Celsius Freeze

Tue, 10/11/2022 - 13:04
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Tomiwabold Olajide
Information appears to have been made public under standard bankruptcy practice
Cardano Investor Loses ADA Worth More Than $25 Million to Celsius Freeze
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According to Celsiusnetworth, a website that claims to rank each Celsius user according to their losses, a Cardano investor has lost over 60 million ADA to the Celsius crisis.

An investor named "Hirokhado Kohji" reportedly held 60,901,003 (60.9 million) ADA worth over $25.33 million before the crypto lender Celsius went out of business.

More than 29,000 pages of court documents were uploaded to servers last week, exposing the financial information of millions of users who had money on the cryptocurrency lender Celsius.

The information appears to have been made public under standard bankruptcy practice as Celsius, which froze customer accounts in July, is currently going through the Chapter 11 restructuring process.

The disclosure affects almost 600,000 user accounts, exposing their wallet addresses, transaction histories, cryptocurrency holdings, most recent transactions and other data. The documents also showed how officials at Celsius were able to pull millions out of their accounts before the lender went bankrupt.

The business sought to have the names of its users withheld, but the judge only permitted the redaction of user email and home addresses.

The court documents that included information about Celsius users are reportedly the source of the Celsius Networth leaderboard. However, inaccuracies might occur as the site continues to aggregate data as a mix-up may occur in the identities of the individuals reported.

Cardano NFTs see historic moment

The largest Cardano NFT minting platform, NMKR, focused on CIP-066 in a series of tweets, which enables NFT collection creators to link their Decentralized Identifiers (DIDs) with NFTs.

Creators can directly link their identities to their NFTs by making their own DIDs and linking them to their NFT collections. Done in connection with Atala Prism, NMKR thinks that this could be a crucial first step in reducing fraud, rug pulls and identity theft on the blockchain.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.