New York attorney general shuts down cryptocurrency trading platform that cheated investors of Millions
New York Attorney General Letitia James has obtained a court order to shut down the Coinseed cryptocurrency exchange. The order " also permanently appoints the court receiver to obtain, protect and return all assets invested and traded through "the swap.
New York Attorney General Letitia James, Shuts Down Cryptocurrency Exchange
The Office of New York Attorney General Letitia James announced Monday that the Attorney General has shut down cryptocurrency trading platform Coinseed.
James has secured a judgment against Coinseed and its founder and CEO, Delgerdalai Davaasambuu, "which permanently stops their illegal and fraudulent operations," the announcement describes, adding:
Attorney General James filed a lawsuit against Coinseed in February for having fraude thousands of investors in the United States CEO of Coinseed, Delgerdalai Davaasambuu and CFO Sukhbat Lkhagvadorj, were also accused in the prosecution.
The Attorney General's Office further revealed that since the filing of complaint, he had received over 175 complaints from investors regarding the exchange.
Despite the legal action, Coinseed and its CEO "continued their fraud and began to behave fraudulent activity by trading investor accounts without authorization and then preventing investors from accessing those accounts, ”the announcement notes.
In June, the New York County State Supreme Court granted James' motion for a preliminary injunction. However, Coinseed and its CEO "defied that preliminary injunction by creation, offer and sale of a new virtual currency - y understood to New York investors - and did not respond to Attorney General James 'complaint. "
Attorney General James said:
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