New York Attorney General Wants to Hear From Investors Deceived by Crypto Platforms

New York Attorney General Letitia James has urged traders in her state who consider they’ve been deceived by a crypto platform to contact her workplace. “Investors had been promised massive returns on cryptocurrencies, however as an alternative misplaced their hard-earned cash,” she burdened.

Letitia James Issues Investor Alert on Cryptocurrency

New York Attorney General Letitia James issued an investor alert on cryptocurrency Monday. “Many high-profile cryptocurrency companies have frozen buyer withdrawals, introduced mass layoffs, or filed for chapter, whereas traders have been left in monetary damage,” the alert states.

James urged any New Yorker deceived or affected by cryptocurrency platforms to contact the Office of the Attorney General (OAG). In addition, she inspired anybody within the cryptocurrency trade “who might have witnessed misconduct or fraud to file a whistleblower criticism together with her workplace,” including that it may be achieved anonymously.

“The latest turbulence and important losses within the cryptocurrency market are regarding,” the legal professional common emphasised, elaborating:

Investors had been promised massive returns on cryptocurrencies, however as an alternative misplaced their hard-earned cash.

The alert particulars that in the previous couple of months, traders have misplaced tons of of billions of {dollars} in cryptocurrency markets, citing the terra (LUNA) and terrausd (UST) collapse and withdrawal freezes at a number of crypto corporations, reminiscent of Voyager Digital and Celsius Network.

Attorney General James detailed:

I urge any New Yorker who believes they had been deceived by crypto platforms to contact my workplace, and I encourage employees in crypto corporations who might have witnessed misconduct to file a whistleblower criticism.

“OAG is taken with listening to from New York traders who’ve been locked out of their accounts, who’re unable to entry their investments, or who’ve been deceived about their cryptocurrency investments,” the announcement provides.

In June, James issued a warning about investing in cryptocurrency, stating that the crypto market is “extraordinarily unpredictable” and “unstable.”

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