{"id":36657,"date":"2021-02-18T14:04:54","date_gmt":"2021-02-18T12:04:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36657"},"modified":"2025-08-29T07:26:05","modified_gmt":"2025-08-29T04:26:05","slug":"new-york-authorities-accuse-coinseed-of-1-million-fraud","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/new-york-authorities-accuse-coinseed-of-1-million-fraud\/","title":{"rendered":"New York authorities accuse Coinseed of $1 million fraud"},"content":{"rendered":"

The New York Attorney General’s office (NYAG) has charged the cryptocurrency startup Coinseed and two of its top executives with defrauding investors of more than $1 million. The agency’s site is represented by the anchor: agency’s site<\/span><\/a>.<\/p>\n

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According to authorities, in 2017 the project raised $100,000 through the sale of 200,000 CSD tokens in an ICO. The prosecutors described the coins as useless and stressed that the company was not registered as a broker-dealer.<\/p>\n

According to the complaint, Coinseed’s executives misled investors about their professional experience. One of the project’s organizers allegedly presented himself as a former Wall Street trader, but in reality had never worked with securities, the prosecutors noted.<\/p>\n

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\u201cThis lawsuit should send a clear signal to all those who trade cryptocurrencies that the agency will tirelessly work to ensure transparency and fairness in the market,\u201d said Attorney General Letitia James.<\/p>\n<\/blockquote>\n

The suit against Coinseed was also filed<\/span><\/a> by the U.S. Securities and Exchange Commission (SEC).<\/p>\n

The startup’s chief executive Delgerdalai Davaasambuu, in a comment to Business Insider<\/span><\/a>, said he did not agree with the NYAG’s claims. According to him, Coinseed did not permit US-based users to participate in the ICO.<\/p>\n

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\u201cI am 100% confident that the suit is full of false allegations,\u201d he noted.<\/p>\n<\/blockquote>\n

The People of the Stat v the People of the Stat Complaint 2<\/a> by ForkLog<\/a> on Scribd<\/p>\n