New York officials won a court order shuttering cryptocurrency trading platform Coinseed, after it allegedly defrauded thousands of investors out of millions of
New York Court Shuts Down Crypto Platform Coinseed bankinfosecurity.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bankinfosecurity.com Daily Mail and Mail on Sunday newspapers.
May 19, 2021
Coinseed is accused of ‘depleting accounts,’ and transferring funds to an offshore, unregulated platform.
New York Attorney General Letitia James has filed for a temporary restraining order, a preliminary injunction, and the appointment of a receiver to stop what she said are the “continued illegal and fraudulent operations” of cryptocurrency trading platform Coinseed.
In February, James filed a lawsuit against Coinseed, its CEO and founder Delgerdalai Davaasambuu, and its CFO Sukhbat Lkhagvadorj alleging fraud.
However, the New York Attorney General’s office says the company and its leaders have continued their fraud and that there has been new fraudulent conduct since the suit was filed. It said its request is necessary to immediately block any additional unauthorized trades.
New York's attorney general filed a lawsuit on Wednesday to shut down the cryptocurrency platform Coinseed Inc for allegedly defrauding thousands of investors, including by charging hidden trading fees and selling "worthless" digital tokens.