Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
LUNA/UST disaster and the subsequent incidents severely harmed the crypto investors, and regulatory bodies around the world are working to prevent such incidents in the future. New York attorney general Letitia James recently issued an alert for New York crypto investors, urging them to contact the Office of the Attorney General (OAG) if they feel deceived or affected by the crypto crash.
New York crypto investors urged to report their concerns
In the past few months, several big crypto companies have frozen user withdrawals, announced major layoffs, and filed for bankruptcy, leaving investors in “financial ruin.”
“As part of the OAG ongoing investigative work, it is interested in hearing from New York investors who have been locked out of their accounts, who are not able to access their investments, or who have been deceived about their cryptocurrency investments,” James stated in the letter.
She “strongly encouraged” New Yorkers affected by this conduct to report these issues to OAG.
James also encouraged employees in the crypto companies to file a whistleblower complaint with her office if they may have witnessed misconduct or fraud in the companies.
“The recent turbulence and significant loss in the crypto market are concerning,” said New York Attorney General. She added that instead of keeping up with their promises of large returns, the crypto companies have burnt inventors’ hard-earn money into ashes. She added:
“I urge any New York [investor] who believes they were deceived by crypto platforms to contact my office, and I encourage workers in crypto companies who may have witnessed misconduct to file a whistleblower complaint.”
Moreover, James also urged them to contact her if they believed to be a victim of any fraudulent or deceptive conduct.
Notably, TheCoinRise’s constant reporting clears that the past few months have been highly demotivating for the investors. After the UST and LUNA crash that activated South Korean investigators to take action against Terraform Labs team, several crypto firms like Celsius Network, Voyager, Anchor, and Vault, froze user accounts.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.