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BTCC / BTCC Square / Global Cryptocurrency /
Celsius Founder Alex Mashinsky Sentenced to 12 Years for $48M Fraud

Celsius Founder Alex Mashinsky Sentenced to 12 Years for $48M Fraud

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2025-05-09 15:51:02
0

Alex Mashinsky, the disgraced founder of bankrupt crypto lending platform Celsius, has been sentenced to 12 years in prison for stealing $48 million from customers. The sentencing marks a pivotal moment in the crackdown on crypto fraud, with prosecutors highlighting the devastation inflicted on thousands of investors who lost life savings.

Mashinsky pleaded guilty to securities and commodities fraud, though his sentence fell short of the 20-year term sought by the Department of Justice. The case underscores the regulatory risks facing the crypto industry as authorities intensify scrutiny of misconduct.

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