{"id":12155,"date":"2021-09-15T15:54:06","date_gmt":"2021-09-15T15:54:06","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/ny-attorney-general-shuts-down-crypto-trading-platform-coinseed-that-cheated-investors-out-of-millions\/"},"modified":"2021-09-15T15:54:06","modified_gmt":"2021-09-15T15:54:06","slug":"ny-attorney-general-shuts-down-crypto-trading-platform-coinseed-that-cheated-investors-out-of-millions","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ny-attorney-general-shuts-down-crypto-trading-platform-coinseed-that-cheated-investors-out-of-millions\/","title":{"rendered":"NY Attorney General Shuts Down Crypto Trading Platform Coinseed That Cheated Investors out of Millions"},"content":{"rendered":"

New York Attorney General Letitia James has secured a court order to shut down cryptocurrency exchange Coinseed. The order also \u201cpermanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through\u201d the exchange.<\/strong><\/p>\n

New York Attorney General Letitia James Shuts Down Crypto Exchange<\/h2>\n

The office of New York Attorney General Letitia James announced Monday that the attorney general has shut down cryptocurrency trading platform Coinseed.<\/p>\n

James has secured a judgment against Coinseed and its founder and CEO, Delgerdalai Davaasambuu, \u201cthat permanently halts their illegal and fraudulent operations,\u201d the announcement describes, adding:<\/p>\n

The judgment secured by Attorney General James today permanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through Coinseed and orders a money judgment against the defendants in the amount of $3,061,511, both together and separately.<\/p>\n

Attorney General James filed a lawsuit<\/a> against Coinseed in February for defrauding thousands of investors across the U.S. Coinseed CEO Delgerdalai Davaasambuu and CFO Sukhbat Lkhagvadorj were also defendants<\/a> in the suit.<\/p>\n

The Office of the Attorney General further revealed that since the filing of the lawsuit, it has received more than 175 complaints from investors about the exchange.<\/p>\n

Despite the legal action, Coinseed and its CEO \u201ccontinued their fraud and commenced additional fraudulent conduct by trading in investors\u2019 accounts without permission and then blocking investors from accessing those accounts,\u201d the announcement notes.<\/p>\n

<\/p>\n

In June, the New York County State Supreme Court granted James\u2019 motion for a preliminary injunction. However, Coinseed and its CEO \u201cdefied that preliminary injunction by creating, offering, and selling<\/a> a new virtual currency \u2014 including to New York investors \u2014 and failed to respond to Attorney General James\u2019 complaint.\u201d<\/p>\n

Attorney General James opined:<\/p>\n

For years, Coinseed and its CEO have engaged in egregious and fraudulent activities that have cheated investors out of millions. In defiance of court orders, this company has continued to operate illegally and unethically, holding investors\u2019 funds hostage and underscoring the dangers of investing in unregistered virtual currencies.<\/p>\n

What do you think about New York Attorney General Letitia James shutting down Coinseed? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, coinseed lawsuit, coinseed new york, coinseed shut down, Letitia James, Letitia James bitcoin, Letitia James coinseed, Letitia James crypto, Letitia James lawsuit<\/p>\n","protected":false},"excerpt":{"rendered":"

New York Attorney General Letitia James has secured a court order to shut down cryptocurrency exchange Coinseed. The order also \u201cpermanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through\u201d the exchange. New York Attorney General Letitia James Shuts Down Crypto Exchange The office of New York Attorney General…<\/p>\n","protected":false},"author":0,"featured_media":12156,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12155"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12155"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12156"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}