14,500 Page Doc Shows All Celsius User Transactions; Execs Withdrew Early

14,500 Page Doc Shows All Celsius User Transactions; Execs Withdrew Early
7 October 2022

Court filings spanning over 14,500 pages have revealed that Celsius Network executives withdrew substantial funds ahead of halting withdrawals for the platforms users.

The document, uploaded by Gizmodo, shows the transactions of all Celsius users, including purchases, withdrawals and interest earned.

Former CEO Alex Mashinsky and ex-CSO Daniel Leon had been accused of withdrawing US$17 million in between May and June 2022, ahead of withdrawal suspension and the company’s bankruptcy. Mashinsky resigned from the company last month.

Read more: “Very Sorry” – Celsius Network CEO Alex Mashinsky Resigns

The documents now show that the two executives cashed out at least US$17 million and as much as US$23 million.

Celsius halted withdrawals in June before filing for bankruptcy the following month. Around US$4.7 billion is reportedly owed by the staking platform.

Read more: Celsius Users = Rekt as Platform Joins Voyager in Chapter 11 Club

Leon resigned earlier this week, without stating a reason. Last month, he declared his 32,600 Celsius common stock as worthless as part of his bankruptcy court case.

Elsewhere in the 14,500-page court document, Mashinsky’s wife withdrew over US$2 million on 31 May. The document leaking into the public eye has drawn flack from Twitter users.

“This horrific breach of privacy will lead to many robbed & killed,” wrote prominent Web3 tweeter 0xfoobar, “Anything not provably [sic] cryptographically private will become public.”

Blockhead Team
Newsletter graphic

Info Blocks In Your Inbox.

If you want relevant updates occasionally, sign up for the private newsletter. Your email is never shared.

Subscribe to our newsletter