Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wp-plugin-hostgator domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the ol-scrapes domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893

Warning: Cannot modify header information - headers already sent by (output started at /home4/scienrds/scienceandnerds/wp-includes/functions.php:6114) in /home4/scienrds/scienceandnerds/wp-includes/rest-api/class-wp-rest-server.php on line 1893
{"id":14635,"date":"2023-01-20T21:49:19","date_gmt":"2023-01-20T21:49:19","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/"},"modified":"2023-01-20T21:49:21","modified_gmt":"2023-01-20T21:49:21","slug":"new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/","title":{"rendered":"New York Attorney General sues former Celsius CEO for defrauding crypto investors"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/01\/05\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/<\/a><\/br>
\nNew York Attorney General sues former Celsius CEO for defrauding crypto investors<\/br>
\n2023-01-20 21:49:19<\/br><\/p>\n

\n

New York Attorney General Letitia James filed a lawsuit against Alex Mashinsky, co-founder and former CEO of Celsius Network, according to an announcement on Thursday.<\/p>\n

James alleged<\/a> that Mashinsky defrauded \u201chundreds of thousands of investors\u2026out of billions of dollars worth of cryptocurrency.\u201d The lawsuit also claims that Mashinsky \u201crepeatedly made false and misleading statements about Celsius\u2019s safety to encourage investors to deposit billions of dollars in digital assets onto the platform.\u201d<\/p>\n

Celsius, which was once one of the world\u2019s largest crypto lenders, filed for bankruptcy protection<\/a> in mid-July 2022. At the time, Celsius said it had anywhere between $1 billion and $10 billion in assets and liabilities and more than 100,000 creditors.<\/p>\n

Prior to filing for bankruptcy, Celsius froze withdrawals for customers in June citing \u201cextreme market conditions.\u201d That freeze never lifted.<\/p>\n

Celsius lost hundreds of millions of dollars of assets through risky investments and Mashinsky misrepresented and hid Celsius\u2019 financial condition, the AG office stated. Additionally, Mashinsky failed to register as a salesperson for the platform and as a securities and commodities dealer, it added.<\/p>\n

\u201cThe law is clear that making false and unsubstantiated promises and misleading investors is illegal,\u201d James said in the release.<\/p>\n

The NYAG lawsuit aims to ban Mashinsky, a New York resident, from doing any business in the state and require him to pay damages, restitution and disgorgement, for an undisclosed amount.<\/p>\n

This legal action follows a number of suits by James. Last year, the attorney general sued Nexo for operating illegally and defrauding investors<\/a> and reached a $1 million settlement with now-bankrupt BlockFi<\/a> for offering unregistered securities, among other things.<\/p>\n

This announcement follows a federal bankruptcy judge ruling<\/a> from Wednesday stating that cryptocurrencies deposited into interest-bearing accounts at Celsius Network actually belong to the firm \u2014 thanks to the fine print.<\/p>\n

The verdict gives Celsius ownership of the $4.2 billion in cryptocurrency that users deposited into its high-interest Earn program, according to a 45-page filing<\/a> from the U.S. Bankruptcy Court Southern District of New York on Wednesday.<\/p>\n

Celsius had approximately 600,000 accounts in its Earn program, and the accounts held a collective value of approximately $4.2 billion as of July 10, 2022, the filing noted. About $23 million of that value consisted of stablecoins.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/01\/05\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/01\/05\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/ New York Attorney General sues former Celsius CEO for defrauding crypto investors 2023-01-20 21:49:19 New York Attorney General Letitia James filed a lawsuit against Alex Mashinsky, co-founder and former CEO of Celsius Network, according to an announcement on Thursday. James alleged that Mashinsky defrauded \u201chundreds of thousands of investors\u2026out of billions of dollars worth […]<\/p>\n","protected":false},"author":1,"featured_media":14636,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[],"class_list":["post-14635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology"],"yoast_head":"\nNew York Attorney General sues former Celsius CEO for defrauding crypto investors - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York Attorney General sues former Celsius CEO for defrauding crypto investors - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/01\/05\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/ New York Attorney General sues former Celsius CEO for defrauding crypto investors 2023-01-20 21:49:19 New York Attorney General Letitia James filed a lawsuit against Alex Mashinsky, co-founder and former CEO of Celsius Network, according to an announcement on Thursday. James alleged that Mashinsky defrauded \u201chundreds of thousands of investors\u2026out of billions of dollars worth […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"Science and Nerds\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-20T21:49:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-20T21:49:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"399\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/\",\"url\":\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/\",\"name\":\"New York Attorney General sues former Celsius CEO for defrauding crypto investors - Science and Nerds\",\"isPartOf\":{\"@id\":\"https:\/\/scienceandnerds.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg?fit=600%2C399&ssl=1\",\"datePublished\":\"2023-01-20T21:49:19+00:00\",\"dateModified\":\"2023-01-20T21:49:21+00:00\",\"author\":{\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e\"},\"breadcrumb\":{\"@id\":\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg?fit=600%2C399&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg?fit=600%2C399&ssl=1\",\"width\":600,\"height\":399},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/scienceandnerds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New York Attorney General sues former Celsius CEO for defrauding crypto investors\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/scienceandnerds.com\/#website\",\"url\":\"https:\/\/scienceandnerds.com\/\",\"name\":\"Science and Nerds\",\"description\":\"My WordPress Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/scienceandnerds.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/scienceandnerds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/scienceandnerds.com\"],\"url\":\"https:\/\/scienceandnerds.com\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New York Attorney General sues former Celsius CEO for defrauding crypto investors - Science and Nerds","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/","og_locale":"en_US","og_type":"article","og_title":"New York Attorney General sues former Celsius CEO for defrauding crypto investors - Science and Nerds","og_description":"Source:https:\/\/techcrunch.com\/2023\/01\/05\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/ New York Attorney General sues former Celsius CEO for defrauding crypto investors 2023-01-20 21:49:19 New York Attorney General Letitia James filed a lawsuit against Alex Mashinsky, co-founder and former CEO of Celsius Network, according to an announcement on Thursday. James alleged that Mashinsky defrauded \u201chundreds of thousands of investors\u2026out of billions of dollars worth […]","og_url":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/","og_site_name":"Science and Nerds","article_published_time":"2023-01-20T21:49:19+00:00","article_modified_time":"2023-01-20T21:49:21+00:00","og_image":[{"width":600,"height":399,"url":"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/","url":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/","name":"New York Attorney General sues former Celsius CEO for defrauding crypto investors - Science and Nerds","isPartOf":{"@id":"https:\/\/scienceandnerds.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#primaryimage"},"image":{"@id":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg?fit=600%2C399&ssl=1","datePublished":"2023-01-20T21:49:19+00:00","dateModified":"2023-01-20T21:49:21+00:00","author":{"@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e"},"breadcrumb":{"@id":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#primaryimage","url":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg?fit=600%2C399&ssl=1","contentUrl":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg?fit=600%2C399&ssl=1","width":600,"height":399},{"@type":"BreadcrumbList","@id":"https:\/\/scienceandnerds.com\/2023\/01\/20\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/scienceandnerds.com\/"},{"@type":"ListItem","position":2,"name":"New York Attorney General sues former Celsius CEO for defrauding crypto investors"}]},{"@type":"WebSite","@id":"https:\/\/scienceandnerds.com\/#website","url":"https:\/\/scienceandnerds.com\/","name":"Science and Nerds","description":"My WordPress Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/scienceandnerds.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/ea2991abeb2b9ab04b32790dff28360e","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/scienceandnerds.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7e6e14fc6691445ef2b2c0a3a6c43882?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/scienceandnerds.com"],"url":"https:\/\/scienceandnerds.com\/author\/admin\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/scienceandnerds.com\/wp-content\/uploads\/2023\/01\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-crypto-investors_63cb0c61482f7.jpeg?fit=600%2C399&ssl=1","_links":{"self":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/14635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/comments?post=14635"}],"version-history":[{"count":1,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/14635\/revisions"}],"predecessor-version":[{"id":14637,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/posts\/14635\/revisions\/14637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/media\/14636"}],"wp:attachment":[{"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/media?parent=14635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/categories?post=14635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scienceandnerds.com\/wp-json\/wp\/v2\/tags?post=14635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}