Celsius Execs Cashed Out Millions Before the Cryptocurrency Company Crashed

Just before crypto company Celsius filed for Chapter 11 bankruptcy earlier this year, its CEO Alex Mashinsky and ex-CSO Daniel Leon pulled bitcoin, ether, USDC and CEL holdings from their custody accounts.

Court documents have revealed the withdrawals as Celsius goes through bankruptcy court, and clients look to be made whole in the wake of the company’s 2022 bust.

Between Mashinsky and Leon, a total of just under $18M in withdrawals was pulled from accounts.

Over a dozen other Celsius execs did not move money similarly, putting suspicion back on Mashinsky and Leon exclusively as the company’s downfall is investigated by an independent examiner appointed by the US Trustee’s office.

Later this month, the court will auction off Celsius’s assets, and the court is working to find ways to settle with customers.

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