Krissy Mashinsky – Fraud, Insider Trading and Celsius
Krissy Mashinsky is the wife of notorious crypto scammer Alex Mashinsky. She stepped down from the Focus Financial Partners board one day after her husband’s crypto lending venture filed for bankruptcy in July 2022.
Krissy had been a member of Focus Financial Partners for only 18 months.
She joined the firm’s board of directors in January 2021. According to her filing with the SEC, Krissy resigned to focus on other responsibilities.
Alex Mashinsky, her husband is the CEO of Celsius Network Ltd, a cryptocurrency lending platform. Celsius filed for Chapter 11 bankruptcy, causing a storm in the crypto industry.
Since then, Alex has been facing multiple lawsuits from the investors, ex-employees and clients of Celsius Network Ltd.
Celsius had stopped processing withdrawals a month before it filed for bankruptcy. It used to offer 19% returns to its customers. Certainly, those days are long gone.
In their SEC filing, Focus said that Krissy Mashinsky didn’t resign because of a disagreement with the company or its mode of operations.
As a board member of Focus Financial Partners, Krissy Mashinsky earned over $650,000 in 2021.
This included $105,000 cash and around $500,000 worth of options awards.
At Focus, Krissy Mashinsky was the chairwoman of the Nominating, Governance and Sustainability Committee. Also, she served on the Audit and Risk Committee of the firm.
The Krissy Mashinsky Celsius Connection:
Before she became a board member at Focus, Krissy was running usasrong.IO Marketplace a tech venture which claims to curate and sell verified merchandise.
Also, she has served as the president of URBN Wholesale, which includes Urban Outfitters.
Seeing how Celsius has been attracting a ton of negative attention for scamming its clients, you might wonder how Krissy Mashinsky is related to it.
However, the asset manager of Celsius, KeyFi, filed a lawsuit against the firm on July 7. KeyFi alleges that Celsius created a new Ethereum wallet address called “oxb1” and transferred all the assets which Jason Stone (KeyFi CEO) was going to deploy.
Moreover, the lawsuit alleges that after Jason left KeyFi, Celsius still had access and control of the oxb1 wallet.
Furthermore, Alex used the wallet for his personal gain. The lawsuit also alleges that Alex transferred many valuable NFTs from the oxb1 accounts to Krissy Mashinky’s wallet.
It shouldn’t surprise anyone if investigations reveal that Krissy played a major role in the crypto scam.
After all, she owned millions of CEL tokens.
Just in 2020, her husband had gifted her $20 million worth of CEL tokens:
At the very least, she must have used her insider knowledge to sell these tokens before other investors, increasing her profits.
There’s no way she has her tokens frozen in Celsius like the rest of its investors.
This point alone makes her a major component of the multi-million scam.
Fake Followers or Spam? People Raise Questions at Krissy Mashinsky Instagram:
On Reddit, a user has promptly highlighted that Krissy Mashinsky might be buying fake followers to boost her Instagram account.
The redditor shared how Krissy’s instagram followers jumped from around 19,000 to over 50,000 within a few hours.
Certainly, it’s suspicious behavior.
Maybe, she is trying to boost her credibility amid the barrage of lawsuits his husband is facing.
Using bots to promote oneself is a rather common tactic among shady businesses and scammers. For example, Aaron Sansoni is an Australian fake guru who posts fake reviews to make himself seem more credible.
Krissy might be utilizing a similar tactic here.
It’s obvious that Krissy Mashinsky has made ample amount of money from Celsius. While its investors are struggling to get their own funds back, Krissy has been able to move on and focus on her other ventura such as usaStrong.IO.
It would be foolish to assume that she didn’t benefit from the crypto scam his husband ran. Sadly, the number of crypto scammers is increasing as well.
Recently, Bryan Legend, a notorious rugpull scammer, has started marketing his new venture Safuu protocol. Many believe it’s another rugpull scheme seeing how all 3 of his last ventures were.
In any case, the authorities should take a close look at Krissy Mashinsky. She is complicit in the Celsius scam and should be held accountable.
Krissy Mashinsky is the wife of notorious crypto scammer Alex Mashinsky. Lawsuits filed against her husband allege that Alex transferred a large number of valuable NFTs from the firm to Krissy’s wallet. People suspect that she is now buying followers for her Instagram page to boost her credibility.
- Received high-value NFTs from Celsius allegedly
- Used to own at least $20 million worth of CEL tokens herself
- Suspected of benefitting heavily from the fraudulent scheme of Celsius