July 23, 2024
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This Publisher is Trying to Wipe ‘all trace’ of Mashinsky’s Book Online, but it’s hard

Alex Mashinsky’s planned financial literacy book has already been canceled, but the book’s publisher is still attempting to remove any evidence of it from the internet.

A book that was supposed to be published by Alex Mashinsky, the former CEO and creator of the insolvent cryptocurrency lender Celsius, has been withdrawn off the market, and the publisher is attempting to “erase all trace of it online.”

Mashinsky’s new financial literacy book, The Mashinsky Method: The Decentralized Path to Financial Freedom, has a planned release date of June.

It offered to educate his “7-step strategy” on “how to secure your assets and how to build compounding income […] Using stablecoins and other crypto such as Bitcoin,” according to a description on Amazon.

The title was priced at $46.25 Australian dollars ($32) in one Australian bookstore.

Wiley, the book’s publisher, acknowledged in a Feb. 6 tweet that the book “has been canceled” after a Twitter user discovered a listing for the ostensibly impending book.

“Once a book is canceled, erasing any online traces of it can be a complicated task,” Wiley noted. It stated that it was working with sellers to alter their data to reflect that the book will no longer be available.

Wiley originally announced the book’s cancellation in a tweet last November. It stated at the time that it was working with shops to update the data.

Cointelegraph contacted Wiley about the cancellation but received no immediate response.

Since the Celsius disaster, the crypto world has been skeptical about the book’s release. Wiley’s tweet appears to have put an end to such conjecture.

The New York Attorney General’s office is presently suing Mashinsky, saying that the ex-CEO scammed investors out of billions of dollars in cryptocurrency.

It claimed that his conduct previous to Celsius declaring bankruptcy contributed to investor losses by misrepresenting Celsius’ financial situation and failing to comply with regulatory regulations.

In July 2022, the crypto lender filed for Chapter 11 bankruptcy and has around 600,000 customers with crypto locked in Celsius accounts.

Mashinsky reportedly took $10 million from the platform just weeks before the firm froze client accounts and filed bankruptcy, raising doubts about whether Mashinsky was aware the company would be freezing cash and declaring bankruptcy.

On Jan. 31, a bankruptcy court-appointed examiner determined in a 470-page study that the platform utilized user funds in a “highly Ponzi-like” way.

The examiner also recorded Mashinsky’s unsuccessful attempt to directly impose influence over the price of the platform’s native CEL token, which caused Celsius to utilize client coins to fund its CEL buybacks since it wasn’t making a significant yield.