New York Attorney General Letitia James has urged traders in her state who imagine they’ve been deceived by a crypto platform to contact her workplace. “Investors had been promised massive returns on cryptocurrencies, however as a substitute misplaced their hard-earned cash,” she pressured.
Letitia James Points 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 break,” the alert states.
James urged any New Yorker deceived or affected by cryptocurrency platforms to contact the Workplace of the Attorney General (OAG). As well as, she inspired anybody within the cryptocurrency business “who might have witnessed misconduct or fraud to file a whistleblower criticism along with her workplace,” including that it may be finished anonymously.
“The current turbulence and important losses within the cryptocurrency market are regarding,” the lawyer basic emphasised, elaborating:
Investors had 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 lots 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, resembling Voyager Digital and Celsius Community.
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 involved in 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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