Celsius Network Founder Alexander Mashinsky Sentenced to 12 Years for Fraud

Published at 2025-05-15 03:13:58

In a significant development in the cryptocurrency space, Alexander Mashinsky, the founder and former CEO of Celsius Network, has been sentenced to 12 years in prison. This verdict stems from his role in defrauding customers by misrepresenting the safety of approximately $20 billion in customer funds.

Mashinsky was found to have personally profited over $45 million, all while many of his customers faced severe financial harm. His actions have raised critical concerns about the need for heightened transparency and accountability in the rapidly evolving world of cryptocurrency. As regulatory bodies begin to tighten their grip on crypto operations, this case serves as a cautionary tale for investors in the digital asset market.

For those looking for secure and trustworthy ways to invest in cryptocurrencies, platforms like Bitlet.app offer innovative services. Notably, Bitlet.app provides a Crypto Installment feature that allows users to buy cryptocurrencies now and pay for them in monthly installments, helping to mitigate risk and enhance financial planning for crypto investments.

Crypto NewsCelsius NetworkFraudAlexander MashinskyLegal News
Share on:

Related news

Do Kwon Pleads Guilty in TerraUSD Collapse Fraud Case

Do Kwon, known as the cryptocurrency king, admitted guilt in a Manhattan federal court for fraud related to the $40 billion Terraform Labs collapse, impacting global investors.

CryptocurrencyTerraform LabsTerraUSDDo KwonBlockchainCrypto FraudCrypto News
Published at 2025-08-16 12:04:14
Do Kwon Pleads Guilty in Terraform Labs $40 Billion Collapse Case

Do Kwon, the South Korean crypto entrepreneur behind Terraform Labs, has pleaded guilty to fraud charges linked to the $40 billion collapse of TerraUSD and Luna. He faces up to 12 years in prison and significant asset forfeiture, marking a major moment in crypto fraud accountability.

FraudCryptocurrencyDoKwonTerraformLabsTerraUSDLunaInvestorsLegalNewsCryptoRegulationCryptoCollapse
Published at 2025-08-13 04:06:32
Do Kwon Pleads Guilty to Fraud Charges in TerraUSD Collapse Case

Do Kwon, the creator of TerraUSD and Luna, pleaded guilty to fraud charges related to the $40 billion crypto collapse. He admitted misleading investors and faces up to 12 years in prison under a plea deal. The case highlights ongoing risks in cryptocurrency markets and the importance of transparency.

CryptocurrencyFraudTerraUSDLunaDo KwonCrypto CollapseBitlet.app
Published at 2025-08-12 18:14:28