Home Business New York Attorney General urges New Yorkers ‘deceived’ by crypto firms to contact office

New York Attorney General urges New Yorkers ‘deceived’ by crypto firms to contact office


New York Attorney General (NYAG) Letitia James has urged New Yorkers who have found themselves locked out of their accounts or who have been “cheated out of their cryptocurrency investments” to contact her office.

In a investor alert published by the Office of the Attorney General (OAG), James said that “recent turbulence and significant losses in the cryptocurrency market are concerning,” adding that crypto investors “have been promised significant returns on cryptocurrencies, but instead lost their hard-earned money.”

She asked New Yorkers who believe they were “cheated by crypto platforms” during the crypto crash to contact her office, and called on workers at crypto companies to “file a whistleblower complaint” if they believe have witnessed misconduct or fraud.

The New York Attorney General’s Office is particularly interested in hearing from investors who have either had their accounts locked out or found themselves unable to access their investments.

New Yorkers who believe they are victims of “fraudulent or deceptive conduct” are also encouraged to share their experiences with the NYAG office.

Investor alert points to May 2022 Terra Crash as well as account freezes on crypto staking and earning platforms including Anchor, Celsius, Travelerand Stablegains, urging those affected to contact the OAG’s Investor Protection Office.

The NYAG and Crypto

This isn’t James’ first run-in with the crypto industry. In October 2021, his office ordered two “unregistered crypto lending platforms” in the state of close.

In February this year Attached and Bitfinex were forced to stop doing business with New York citizens and businesses in a regulation following a lengthy investigation by the Attorney General’s office.

At the time, James announcement that “Those who trade virtual currencies in New York cannot avoid our laws, period.”

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