New
Yorkers who were “deceived or affected” by the recent crash in cryptocurrency
are being urged by New York Attorney General Letitia James to contact her
office.
James
says some high-profile cryptocurrency businesses have frozen
customer withdrawals, announced mass layoffs, or filed for bankruptcy, while
investors have been left in financial ruin.
The
total value of crypto assets hit a peak of $2.8 trillion last November. In
June, it was reported to be below $1.3 trillion, according to CoinGecko. Surveys
show that roughly 16% of adult Americans, or 40 million people, have invested
in cryptocurrencies.
“The
recent turbulence and significant losses in the cryptocurrency market are
concerning,” said James in prepared remarks. “Investors were promised large
returns on cryptocurrencies, but instead lost their hard-earned money. I urge
any New Yorker 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.”
She
called out the “dramatic devaluations” of Terra and Luna virtual currencies and
account freezes on cryptocurrency staking or earning programs, such as Anchor,
Celsius, Voyager and Stablegains.
According
to the AG’s release:
“If
you are worried that you or someone you know has been a victim of investment
fraud, contact OAG’s Investor Protection Bureau online or email
investor.complaints@ag.ny.gov. If
you have worked in the crypto industry and believe you may have knowledge of
wrongdoing, contact OAG’s Investor Protection Bureau, email
investor.complaints@ag.ny.gov, or
file a complaint using the online whistleblower portal.”