Celsius Investors Lost Millions of Dollars, Records Show

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Crypto Regulation
Celsius Investors Lost Millions of Dollars, Records Show

Celsius Network users cumulatively lost millions of dollars with Jacob Benjamin Fite topping the list of the top ten most “rekt” investors.

The Data Breach

Shortly after Celsius’ terrible apocalypse, a shocking discovery was revealed by the recent breach of Celsius Network members’ previous transactions. According to the data, Jacob Fite topped the list with losses totaling more than $40 million. Bitcoin was Fite’s significant digital asset investment, up to around 98% of his total investment in the collapsed network.

Hirokhado Kohji ranked second as a Celsius user with some of the highest losses. The catastrophic failure of the digital asset lending platform cost the user a stunning $38 million. Kohji holds ADA as his primary cryptocurrency. The data revealed that Kohji had more than 60.9 million ADA before the Celsius Network debacle. 

The third victim on the list is Russel Garth Stewart, who is estimated to have more than $26 million locked up in Celsius’ ecosystem. 

Celsius Victim Doxxed by the Network

Recently, the cryptocurrency lender Celsius exposed thousands of consumers’ names and transaction histories, causing unprecedented losses. The 1,450-page dossier includes personal information about Celsius customers, such as wallet ID, token kinds held, transaction history of deposits and withdrawals, and the current value of the frozen portfolio. According to the data, the top 10 Celsius investors lost more than $200 million in digital assets as per the current market valuation of the tokens.

On numerous social media sites like Reddit, the Celsius data leak has attracted a lot of criticism from the entire crypto community. Nick Hansen, the CEO, and co-founder of Luxor, mentioned that the cryptocurrency lender’s 14500 pages of data exposure could be one of the enormous data and privacy protection rights breaches in the history of blockchain technology. 

In a Twitter post Nick said:

This Celsius leak may go down as one of the greatest breaches of customer information ever. Names, balances, and transaction ids. Any wallet that’s ever touched Celsius is now exposed and linked to an ID A perfect demonstration of why KYC only hurts honest consumers.”

Celsius Executives Scammed the Entire World

Recently, The Celsius Saga seems to have overtaken headlines posted by the TerraLuna collapse, a digital ecosystem that wiped out more than 45 billion dollars from enterprising crypto investors. Celsius filed for Chapter 11 bankruptcy on July 23rd, 2022. 

As Celsius continues the legal battle after the fling, it has become more evident that Alex Mashinsky, Celsius’ Founder, is a scam artist. According to reports, Mashinsky and his wife withdrew an estimated $12 million in digital assets from the Celsius network before the bankruptcy proceedings began.

New evidence produced by the leaked Celsius clientele data indicated that in May of 2022, just weeks before freezing clients’ deposits, Alex and other major Celsius withdrew more than $17 million. Alex is suspected of having ejected $10 million out of the reported amount, and his wife, Chrissy, is estimated to have withdrawn $2 million. The rest of the executives shared the remaining $5 million.

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