Key points to remember

  • Celsius has announced that one of its employees is under investigation for activity unrelated to the company.
  • Although Celsius has not disclosed the employee’s name, CFO Yaron Shalem is likely the person in question.
  • Shalem was involved with crypto entrepreneur Moshe Hogeg, who was arrested this month for fraud and assault.

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Celsius’ chief financial officer, Yaron Shalem, has reportedly been arrested in Israel on charges relating to activities outside the company.

Celsius employee under investigation

Thursday, Celsius tweeted that he was “recently made aware of a police investigation in Israel involving an employee.” She added that this event was unrelated to the employee’s work at Celsius and none of her funds were affected. The company also said it immediately suspended the employee.

Although Celsius did not name the employee, most believe the accused was the company’s chief financial officer, Yaron Shalem.

Celsius has repeatedly refused to confirm that Shalem was the employee in question. However, some noted that the company deleted Shalem from his team page, presumably confirming the identity of the employee suspended by omission.

Shalem was linked to Moshe Hogeg

Shalem is likely one of eight people arrested and investigated in connection with Moshe Hogeg, who was stopped on charges of fraud, money laundering and sexual assault last week.

Hogeg is best known as the founder of crypto phone company Sirin Labs. He also ran a venture capital firm called Singulariteam, where Shalem was CFO for several years. Celsius CEO Alex Mashinsky was previously involved with Sirin Labs as an advisor, but does not appear to be under investigation.

Earlier this week, Celsius announced that it had extended its latest funding round to $ 750 million. It also plans to invest and diversify into mining alongside its main crypto lending service.

Disclosure: At the time of writing, the author of this article had less than $ 100 worth of BTC, ETH, and altcoins.

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