BackCelsius Founder Alex Mashinsky Seeks to Vacate 12-Year Prison Sentence

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Decrypt5/30/2026Crime2 min read

Celsius Founder Alex Mashinsky Seeks to Vacate 12-Year Prison Sentence

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Alex Mashinsky, founder of defunct crypto lending platform Celsius, files motion to vacate 12-year prison sentence citing ineffective counsel due to financial conflict of interest with his legal firm, which had ties to FTX's Sam Bankman-Fried.

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In brief Celsius founder Alex Mashinsky filed a motion to vacate his 12-year prison sentence. The former crypto lending CEO cited ineffective counsel as a core reason for his motion. Mashinsky was arrested and later pleaded guilty to commodities and securities fraud. [...] Though some creditors wanted even harsher punishments, Mashinsky was sentenced to 12 years in prison for his crimes. Now he wants to see that sentence vacated.

CertiK's H1 2026 report reveals a 20-fold surge in crypto-related physical coercion crimes, or "wrench attacks," since H1 2025, with financial exposure increasing 11.8 times to $124.1 million. The report emphasizes the need for advanced custody solutions like multisignature wallets and distributed signers to protect against forced access.

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Celsius Founder Alex Mashinsky Seeks to Vacate 12-Year Prison Sentence

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