The former CEO of Celsius, a company that provides cloud computing services, is facing serious legal troubles after being accused of fraud, embezzlement and money laundering. A court has ordered his home and assets to be frozen as part of a criminal investigation.
According to the prosecutors, the former CEO, who has not been named, allegedly misused company funds for personal expenses, such as luxury cars, vacations and gambling. He also allegedly inflated the company’s revenue and profits to attract investors and lenders and transferred money to offshore accounts to evade taxes.
The court issued a freezing order on his home and assets, including bank accounts, stocks, bonds and cryptocurrencies, to prevent him from disposing of them or transferring them to third parties. The order will remain in effect until the investigation is completed and a verdict is reached.
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The former CEO has denied the allegations and claimed that he is innocent. He said that he was a victim of a conspiracy by his rivals and former colleagues, who wanted to take over the company and ruin his reputation. He also said that he had evidence to prove his innocence and that he would cooperate with the authorities.
Celsius is one of the leading cloud computing companies in the world, with clients in various sectors, such as finance, health care, education and entertainment. The company was founded in 2015 by the former CEO and a team of engineers and entrepreneurs. The company has raised over $200 million from investors and lenders and has been valued at over $1 billion.
The scandal has shocked the industry and the public and has raised questions about the credibility and transparency of Celsius and other cloud computing companies. Some analysts have warned that the scandal could damage the reputation and trust of the cloud computing sector and affect its growth and innovation potential.
In a different twist, the recent hack of the Euler protocol, which resulted in the loss of over $200 million worth of crypto assets, has been traced back to a Whitehat hacker who claims to have acted unintentionally. In a blog post published on Medium, the anonymous hacker explained how they exploited a vulnerability in the Euler smart contracts to drain the funds from the protocol but did not realize the extent of the damage until it was too late.
According to the hacker, they were testing the security of the Euler protocol as part of a bug bounty program and found a way to bypass the time lock mechanism that was supposed to prevent unauthorized withdrawals. The hacker said they used a flash loan to borrow a large amount of crypto from another protocol, and then used it to trigger the withdrawal function on the Euler contracts. The hacker claimed they expected the transaction to fail or revert, but instead it succeeded and transferred all the funds from the Euler pool to their address.
The hacker said they were shocked and panicked when they saw the huge amount of money in their wallet and tried to contact the Euler team to return the funds. However, they said they could not find any contact information or communication channel for the Euler team and decided to send the funds to a burn address instead. The hacker said they did this to prevent anyone else from stealing the funds or accusing them of being a malicious actor. The hacker also said they hoped that by burning the funds, they would reduce the inflation of the crypto market and benefit the whole community.
The hacker apologized to the Euler team and the affected users and said they did not intend to harm anyone or profit from their actions. The hacker also urged other Whitehat hackers to be more careful and responsible when testing protocols and suggested that protocols should implement better security measures and communication channels to prevent similar incidents in the future.