Ex-Celsius CEO Sued by NY for Duping Crypto Investors

Former Celsius Network CEO Alex Mashinsky was sued for fraud by the New York attorney general.

Mashinsky, who co-founded Celsius, duped hundreds of thousands of investors out of billions of dollars of cryptocurrency by repeatedly making false and misleading statements about the lender’s safety, according to a suit filed Thursday in Manhattan. The alleged scheme ran from 2018 to June 2022, when Celsius froze withdrawals.