0 sats \ 1 reply \ @Darkbulb 19 Apr 2023 \ on: Bitcoin Loan VS Bitcoin-backed Loans: Pros & Cons bitcoin
Dont lend your corn. Trust no one. Especially not Celcius Loans. I lost 1btc in a loan 🥲
Ouch, that sucks. The absolute scumfuckery that was going on with Celsius has seemingly managed to somewhat fly under the radar in relation to bigger, even more egregious scamming like the FTX debacle, though it certainly was in no way any less criminal. Alex Mashinsky (the CEO of Celsius) is a criminal who deserves to be in prison, I have no idea why he hasn't been arrested.
There's an abundance of evidence highlighting them doing all manner of illegal shit, including minting endless amounts of their own CEL shitcoin tokens, and using customer funds to purchase CEL at market prices to artificially pump the price of it, so that the CEO and other executives could cash out at a higher price. Basically ponzinomics on steroids, using customers' funds to pump their golden parachute bags. Totally disgusting.
I hope you're able to get back some of your funds, I haven't been closely following the happenings with Celsius but I would hope that there is at least some kind of legal avenue you can take for remuneration, even if it's unlikely and it takes a long time, better than nothing.
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