Here is what CeIsius is currently doing with their customers' money.

The problem with blockchain is that everything on it is transparent.

Sadly for CeIsius this means we can openly look at their wallets and see what they've been up to.

Here:

https://etherscan.io/address/0x87a67e7dc32fdc79853d780c6f516312b4a503b5#tokentxns

About 10 hours ago, CeIsius deposits 12 million DAI in the Maker contract and retrieves 6.7M LINK tokens.

Fair enough, they are paying off an outstanding debt on Maker. To be expected if they were winding down and retrieving their users' funds for withdrawal.

But then they send it through a few wallets:

https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x41318419cfa25396b47a94896ffa2c77c6434040https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x019c4935ff1c4945f046c6784c08a40f1ab632a3https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1

And where is this $40M in Chainlink sent? Surely, back to the CeIsius wallets so the users can withdraw their funds, right? No.

They sent it to FTX.

CeIsius has learned nothing. They are not unwinding. They are speculating with their users' deposits by openly shorting what their own users have deposited with them, on the open market.

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Edit: Okex and Nexo are doing exactly the same.

https://etherscan.io/token/0x0b8f12b1788BFdE65Aa1ca52E3e9F3Ba401be16D#balances

All the top Aave LINK shorts are funded directly from Okex wallets (Funded in 1 day with much more than user withdrawal limits)

https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x9ec9bc7fb027448bb2670c4bd56043ea9dfd2d

Recent 700k LINK deposit to Binance leading back to NEXO WBTC Merchant Deposit address. There's more deposits to Huobi leading back, again, to NEXO WBTC Deposit address.