Crypto’s Fallen Prophet: Celsius Founder Alex Mashinsky Gets 12 Years for Billion-Dollar Fraud

Crypto’s favorite ’unbank yourself’ evangelist just got unbanked—by the feds. A Manhattan court slammed Mashinsky with a 12-year sentence for orchestrating one of DeFi’s most spectacular flameouts.

Remember those ’earn 17% APY’ promises? Turns out printing yield from thin air works better in whitepapers than federal courtrooms. The judge cited ’calculated and persistent’ fraud—crypto’s favorite growth strategy before the SEC started paying attention.

Bonus irony: Mashinsky’s ’community-first’ platform secretly prioritized insider withdrawals while locking retail investors’ funds. Nothing builds trust like a VIP exit ramp!

As Celsius creditors fight over the carcass, one lesson emerges: when a founder says ’this time it’s different,’ check their offshore accounts first.