New York Attorney General Letitia James has urged investors in her state who believe they have been deceived by a crypto platform to contact her office. “Investors were promised big returns on cryptocurrencies, but instead lost their hard-earned money,” she pointed out.
Letitia James Issues Cryptocurrency Investor Alert
New York Attorney General Letitia James issued a cryptocurrency investor alert on Monday. “Many leading cryptocurrency companies have frozen customer withdrawals, announced mass layoffs or filed for bankruptcy, while investors have been left in financial ruin,” the alert reads.
James urged any New Yorkers deceived or affected by cryptocurrency platforms to contact the Office of the Attorney General (OAG). Additionally, she encouraged anyone in the cryptocurrency industry “who may have witnessed misconduct or fraud to file a whistleblower complaint with her office,” adding that this can be done anonymously.
“The recent turbulence and significant losses in the cryptocurrency market are concerning,” the attorney general said, adding:
Investors were promised big returns on cryptocurrencies, but instead lost their hard-earned money.
The alert details that over the past few months, investors have lost hundreds of billions of dollars in the cryptocurrency markets, citing the collapse of terra (LUNA) and terrausd (UST) and the freezing of withdrawals in several crypto companies, such as Voyager Digital and Celsius Network.
Attorney General James detailed:
I urge any New Yorkers who believe they have been misled by crypto platforms to contact my office, and I encourage workers at crypto companies who may have witnessed misconduct to file a whistleblower complaint.
“OAG wants to hear from New York investors who have been locked out of their accounts, unable to access their investments, or misled about their cryptocurrency investments,” the announcement adds.
In June, James published a Attention on investing in cryptocurrency, stating that the crypto market is “extremely unpredictable” and “volatile”.
What do you think of New York Attorney General Letitia James urging investors misled by crypto firms to contact her office? Let us know in the comments section below.
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