The Celsius saga continues. The company had its database containing the names and assets of all its customers hacked. We discover that so-called maximalists actually own shitcoins…
Masked Shitcoiner at Celsius
Bitcoin’s decline, exacerbated by the sudden implosion of Terra (LUNA), has lifted the lid on the calamitous risk management of some firms like Celsius.
Alex Mashinsky’s firm has a deficit of nearly $1.2 billion and all you have to do is type in first and last names on celsiusnetworth.com to find out if this or that personality held this or that shitcoin. And how much…
Jacob Benjamin Fite is ranked first with a loss of over $40 million. The top ten individual investors all lost over $12 million:
More interestingly, it turns out that some people posing as maximalists actually own shitcoins…
This is for example the case of Natalie Brunell, presenter of Hard Money, she who had nevertheless mocked Dave Portnoy during the Bitcoin conference in Miami for his pump & dump of the safe moon corner.
Here in passing is the Hard Money episode dealing with the Celsius bankruptcy:
All this to say that KYC (Know your Costumer) procedures pose an obvious risk to Bitcoin holders. Indeed, all those who are on this list are at risk of having the seeds of their wallets stolen.
Let’s finish by hammering that there is no magic. Platforms like Celsius that offer huge returns are necessarily ponzi schemes.
A ponzi works by paying old customers with deposits from newcomers. Because in this kind of scams, no real economic activity justifies the promised returns!
As such, we have just learned that Celsius founder Alex Mashinsky withdrew $10 million before suspending withdrawals and filing for bankruptcy. This is the goal of the ponzi: not to be the last to go out…
Not your key, not your coin!
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