Crypto fraud detective Coffeezilla has accused Celsius founder Alex Masinsky of dumping over 10,000 CEL tokens in the early hours of October 11.
Alex Mashinski has been accused of driving Celsius into bankruptcy due to his poor leadership and mismanagement.
Shared by Coffeezilla Tweet Alleges Alex Mashinski dumped thousands of CEL tokens in multiple wallets.
Alex Mashinski is a cartoonish villain. After he was accused of stealing money from a company that was on the verge of bankruptcy, he began dumping hundreds of thousands of dollars. $CEL Tokens that span multiple wallets.
He’s dumping I’m writing this, the last transaction was 3 minutes ago) pic.twitter.com/Ugg9Q7yDTZ
— Coffeezilla (@coffeebreak_YT) October 11, 2022
An address labeled Mashinsky Cashout Wallet, which Coffeezilla claimed belonged to the founders of Celsius, moved about 10,000 CEL tokens on Oct. 11.
machine ski wallet About 10,000 CEL tokens were exchanged for about $9,300 USDC on October 11, according to a study identified by Nansen, a leading data analytics platform. The wallet currently contains 170,000 CEL and approximately $23.863, totaling $186,578.
Cash out by Celsius executives
even though it’s freezing drawer Since June, the management of the bankrupt cryptocurrency lender has reportedly been cashing in at the expense of Celsius customers.
Shortly before Celsius filed for bankruptcy, Alex Mashinski withdrew about $10 million. But Mashinski claimed he made the withdrawals to cover tax costs.On Aug. 8, Nansen’s Mashinski wallet showed he withdrew an additional $28,242 of his money.
There are also reports that the former CSO of Celsius, Daniel Leon, withdrew about $7 million in May, and another $4 million (in CEL tokens).
Celsius Creditors and KYC Risk
Most of the questionable withdrawals by Celsius executives 14,000 pages Documents submitted by Celsius as part of bankruptcy proceedings.
While the document helped uncover the identities of bad actors like Alex Mashinski, the crypto community has accused the team of exposing creditor KYC details.
Many of Celsius’s creditors have expressed concerns about their personal safety, as the documents detail personal data and could be hijacked by bad actors.