New York Attorney General Wants to Hear From Investors Deceived by Crypto Platforms – Regulation Bitcoin News

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 have been promised massive returns on cryptocurrencies, however as a substitute 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 wreck,” 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 grievance along with her workplace,” including that it may be executed anonymously.

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

Investors have been promised massive returns on cryptocurrencies, however as a substitute misplaced their hard-earned cash.

The alert particulars that in the previous few 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 companies, corresponding to Voyager Digital and Celsius Network.

Attorney General James detailed:

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

“OAG is concerned 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.”

What do you concentrate on New York Attorney General Letitia James urging traders deceived by crypto companies to contact her workplace? Let us know within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

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