"I accept full responsibility for my actions," Mashinsky said, acknowledging crimes from 2018 to 2022 while promoting Celsius as a safe place for crypto deposits.
U.S. Attorney Damian Williams described Mashinsky as the orchestrator of one of the biggest frauds in crypto history, deceiving customers while the platform's assets peaked at $25 billion.
Mashinsky misled customers by suggesting regulatory approval for Celsius’s operation, knowing that this false assurance would encourage more deposits into the failing platform.
Using attractive slogans like "Unbank Yourself," Mashinsky enticed customers, all while secretly manipulating token prices and selling at inflated values to enrich himself.
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