Celsius Founder Alex Mashinsky Sentenced to 12 Years for Crypto Fraud

Alex Mashinsky, former CEO of Celsius Network, has been sentenced to 12 years in prison for engaging in large-scale crypto fraud. This conviction has led to the freezing of $4.7 billion in customer funds and casts a shadow on the credibility of the cryptocurrency sector. The sentencing follows years of mismanagement and misleading statements from Mashinsky regarding the security of Celsius, leading to its collapse and devastating financial losses for customers.