Celsius warns community about fake accounts and pauses Twitter spaces and AMAs

Celsius warns community about fake accounts and pauses Twitter spaces and AMAs

One week after starting the suspension of withdrawals, the cryptocurrency lending platform Celsius Network has warned the community of a rise in fake social media accounts claiming to be affiliated with the company.

In a blog post, The lending firm urged the community to be more vigilant as there is a rise in accounts “falsely claiming to be associated with Celsius.” In the same publication, the firm announced that it will pause some of its communication channels, specifically its spaces on Twitter and the “ask me anything” (AMA) sessions, to focus on its current liquidity and operations problems.

In addition, the firm has highlighted that it is working and communicating with regulators about the suspension of withdrawals, exchanges and transfers, and that it is trying to find a solution. However, it did not mention any update on when its users can resume withdrawals of their funds.

Meanwhile, it has started a move on Twitter for a Gamestop-style Celsius (CEL) short squeeze, with the hashtag #CELShortSqueeze trending in the Business & Finance category. Twitter users have posted their CEL purchases to show their support for the project.

The user “TheTwitOnline” express his hopes that Celsius CEO Alex Mashinsky took notice of how the community is supporting the project in hopes that his team will work to bring more value and utility to the CEL token.

On Monday, simon dixon, co-founder of the online investment platform, BnkToTheFuture, proposed a solution to the Celsius crisis. According to Dixon, the approach Bitfinex used to deal with its infamous hack had worked, and he urged Celsius to do something similar.

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Sam Bankman-Fried, CEO of exchange FTX, has denied rumors that major trading firm Alameda Research had anything to do with the ongoing Celsius crisis. On the other hand, Bankman-Fried has noted that Alameda is working to prevent further damage within the cryptocurrency sector due to the Celsius issues.

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