Celsius Network Lawsuit: Crypto YouTuber BitBoy Threatens Class-Action Lawsuit Against Celsius

Crypto platform Celsius Network is being threatened with a class-action lawsuit from crypto YouTuber and influencer Ben Armstrong, aka BitBoy.

After the Celsius Network announced it would halt withdrawals, BitBoy claims that the platform did not allow him to withdraw money, and in return asked for more funds.

Amid this massive crypto crash, here's a look at what BitBoy said on Twitter about a Celsius Network lawsuit.

BitBoy vs Celsius Network

Armstrong posted on Twitter against Celsius Network, claiming that the network is not allowing him to withdraw his funds.

He further outlined the issue, adding that he was unable to pay off loans with existing funds deposited in Celsius. Instead, he said the network prompted him to deposit a new set of funds to pay the loans off.

Armstrong further event went as far as claiming the company was scamming users, describing it as a "pure scam" and "[heading] towards bankruptcy". He speculated the company did not have the funds to pay off users.

BitBoy also added:

"I guess we all thought Celsius Network was being responsible and earning returns in safe environments when in reality they are just defi degens who never had any clue what they were doing."

Armstrong asserted that he and his legal team are currently in the process of suing the Celsius network, and are going through "disclosures, documents, loan details," all while connecting with lawyers to find the "best part forward."

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Celsius Network Responds To BitBoy

Armstrong's aggressive stance went viral on social media, prompting the Celsius network to intervene and douse the issue at hand.

The network responded to BitBoy via an email claiming to resolve the given grievance in an "amicable" manner. However, they requested BitBoy remove his tweets as they identified an individual working at Celsius

BitBoy responded, stating he would not delete the tweets. "Here they come trying to silence me," he said.

Celsius Network (CEL) is down 14% in the last week, trading at $0.56.