DOJ Demands 20-Year Sentence for Celsius Founder Alex Mashinsky
Former Celsius Network CEO Alex Mashinsky could face 20 years behind bars, as the U.S. Department of Justice (DOJ) pushes for a severe sentence tied to his role in a multibillion-dollar fraud.
On April 28, the DOJ filed a 97-page sentencing memo, highlighting the catastrophic fallout from Mashinsky’s alleged misconduct. Prosecutors argue that thousands of Celsius users lost access to $4.7 billion in crypto assets after the platform abruptly froze withdrawals on June 12, 2022.
The memo outlines what it calls Mashinsky’s “years-long campaign of lies and self-dealing.” Citing the staggering customer losses, the DOJ contends that a 20-year prison term would serve as just punishment for the financial devastation caused under his leadership.
According to the filing, Mashinsky’s actions “left in its wake billions in losses and thousands of victimized customers.”
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
