Online reports, Cointelegraph reported that the U.S. Bankruptcy Court for the Southern District of New York said that the debtors of Celsius and former CEO Alex Mashinsky and related entities had reached an agreement to prohibit the distribution of Celsius's bankruptcy proceeds to the latter. The agreement allows Celsius debtors to allocate funds frozen as a result of claims filed by Mashinsky. In May this year, Masinsky was sentenced to 12 years in prison for fraud. So far this year, Celsius creditors have claimed more than $1 billion in assets.