York’s attorney general is suing ex-celsius boss alex mashinsky for defrauding investors. the lawsuit claims mashinsky promised investors financial freedom but instead led them to financial ruin. hundreds of thousands of investors were defrauded out of billions of dollars worth of cryptocurrency.
Alleged fraud happened when celsius, a crypto lending platform, stopped withdrawals in june due to “extreme market conditions.” a month later, celsius filed for bankruptcy. the incident happened in new york and the attorney general is taking action to recoup losses of thousands of new yorkers.
Lawsuit claims mashinsky defrauded hundreds of thousands of investors out of billions of dollars worth of cryptocurrency. this was done by exploiting the trust of investors and manipulating the market conditions to his advantage. the attorney general is taking action to recoup losses of thousands of new yorkers and ensure justice is served. this is a breaking news story and will be updated.