Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of finance and cryptography.
New York Attorney General Wants To Hear From Investors Cheated By Crypto Platforms – Regulating Bitcoin News
New York Attorney General Letitia James has urged investors in her state who believe they have been defrauded by a crypto platform to contact her office. “Investors were promised great returns on cryptocurrencies but instead lost their hard-earned money,” she stressed.
Letitia James issues cryptocurrency investor alert
New York Attorney General Letitia James issued an investor alert on cryptocurrency on Monday. “Many high-profile cryptocurrency companies have frozen customer withdrawals, announced mass layoffs or filed for bankruptcy, while investors have been left in financial ruin,” the alert said.
James urged any New Yorker who was defrauded or influenced by cryptocurrency platforms to contact the Office of the Attorney General (OAG). Additionally, she encouraged anyone in the cryptocurrency industry “who may have witnessed misconduct or fraud to file a whistleblower complaint with her office,” adding that it can be done anonymously.
“The recent turbulence and significant losses in the cryptocurrency market are concerning,” the Attorney General emphasized, elaborating:
Investors were promised great returns on cryptocurrencies, but instead lost their hard-earned money.
The alert shows that investors have lost hundreds of billions of dollars in the cryptocurrency markets in recent months, citing the collapse of terra (LUNA) and terrausd (UST) and withdrawal freezes at several crypto firms, such as Voyager Digital and Celsius Network.
Attorney General James detailed:
I encourage all New Yorkers who believe they were defrauded by crypto platforms to contact my office, and I encourage workers at crypto companies who may have witnessed misconduct to file a whistleblower complaint.
“The OAG is interested in hearing from New York investors who have been locked out of their accounts, who have not been able to access their investments, or who have been defrauded about their cryptocurrency investments,” the announcement added.
In June, James issued a warning about investing in cryptocurrency, saying the crypto market is “extremely unpredictable” and “volatile.”
What do you think of New York Attorney General Letitia James urging investors scammed by crypto firms to contact her office? Let us know in the comments section below.
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