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BTCC / BTCC Square / Global Cryptocurrency /
Celsius CEO Alex Mashinsky Faces 20-Year Prison Sentence Over $7B Crypto Scam

Celsius CEO Alex Mashinsky Faces 20-Year Prison Sentence Over $7B Crypto Scam

Author:
Global Cryptocurrency
Published:
2025-04-29 14:00:02
11
1

Alex Mashinsky, founder of the collapsed Celsius Network, is set to receive a 20-year prison sentence for what prosecutors describe as one of the most brazen frauds in crypto history. The former CEO, once celebrated as an innovator in crypto lending, allegedly orchestrated a scheme that resulted in nearly $7 billion in customer losses.

Federal prosecutors filed a sentencing memo on April 28th, revealing the staggering scale of deception behind Celsius’ operations. The platform, which once managed over $20 billion in assets, promised investors unrealistic returns while allegedly operating as a Ponzi scheme. Mashinsky’s fate will be decided at a May 8th court hearing.

|Square

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