Former Celsius Network executives withdrew $18m in cryptocurrencies in the two months before the company filed for chapter 11, according to documents filed on 5 October to the bankruptcy court.

Alex Mashinsky, the former chief executive of the crypto lender, withdrew $10m dollars in tokens between May and the bankruptcy filing on July 13, according to the court documents. His lawyer confirmed the size of his withdrawals. Mashinsky stepped down from his role in late September following a request from Celsius’ creditors.