Celsius Network notified the community of a spike in fake Celsius accounts claiming to be affiliated with the company a week after it began its withdrawal freeze.
Furthermore, the company is working and consulting with regulators to find a solution to the withdrawals, swap, and transfer pauses.
Fake Celsius accounts bombard already stressed platform
The lending firm urged the community to be more vigilant in a blog post, stating that there has been an increase in accounts “falsely purporting to be associated with Celsius.”
The firm also announced that it will pause some of its communication channels, including Twitter Spaces and ask-me-anything (AMA) sessions, to focus on its ongoing liquidity and operations issues.
However, the company has not provided any updates on when its users will be able to resume withdrawals of their funds.
Twitter CEL purchases
Meanwhile, the Gamestop-style short squeeze movement for CEL on Twitter has trended in the Business and Finance category with the hashtag #CELShortSqueeze. In addition, users on Twitter have been posting their CEL purchases to show their support for the project.
Celsius CEO Alex Mashinsky, according to Twitter user TheTwitOnline, should notice how the community is supporting the project and work to give CEL more value and utility.
Simon Dixon, the co-founder of the online investment platform BnkToTheFuture, presented a remedy to the Celsius fiasco on Monday. According to Dixon, Bitfinex’s strategy for dealing with its infamous attack worked, and he encouraged Celsius to follow suit.
The CEO of the FTX exchange, Sam Bankman-Fried, dismissed reports that the primary trading business Alameda Research was involved in the current Celsius problem. Bankman-Fried, on the other side, has stated that Alameda is striving to prevent future damage to the crypto business due to Celsius’ troubles.