Crypto lending company Celsius Network freezes customer accounts after facing bankruptcy in July 2022.
Nevertheless, it was reported that Celsius founder Alex Mashinsky managed to withdraw $10 million from the company in the weeks before customer accounts began to be frozen.
The proof is that while the client was withdrawing his assets in large amounts, Mashinsky took drastic action by issuing crypto in May 2022 in order for Celsius's finances to be in a stable state.
Meanwhile, Mashinsky's resignation last week has raised questions about whether he knew Celsius was unable to return assets to its clients.
Through the details of Mashinksy's transactions, the matter will be presented to the court and reveal the finances of Celsius even though he and his family still have $44 million worth of crypto frozen in the company.
Explained, before Mashinky withdraws cryptocurrency in his account to pay state and federal taxes, he deposits cryptocurrency consistently and tries to unite the community to maximize tokens and liquidity.
As a result, $8 million of funds were used to pay Celsius income tax while the remaining $2 million was in Celsius Networks tokens.
In fact, it is expected that the production was planned for Mashinsky's estate.
In the meantime, Mashinsky will likely have to return $30 million withdrawn from Celsius Network following U.S. law requiring payments by companies within 90 days of filing for bankruptcy.
