Celsius Judge Allows Legal Notices Via NFTs to Digital Wallets

Celsius Network’s litigation administrator can notify defendants accused of holding fraudulently transferred assets by dropping non-fungible tokens into their digital asset accounts, a bankruptcy judge ruled.

The method protects the defendants’ due process rights and can reasonably be expected to provide information about a legal proceeding brought by the Celsius administrator, Judge Martin Glenn of the US Bankruptcy Court for the Southern District of New York said in a written decision Thursday.

The litigation administrator is looking to provide notice of lawsuits that aim to undo allegedly fraudulent digital asset transfers.

Each digital wallet is held by a single person, ...