{"id":41470,"date":"2021-04-27T12:35:57","date_gmt":"2021-04-27T09:35:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41470"},"modified":"2025-08-30T18:53:35","modified_gmt":"2025-08-30T15:53:35","slug":"coinseed-allegedly-converted-users-funds-into-dogecoin-without-their-consent","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinseed-allegedly-converted-users-funds-into-dogecoin-without-their-consent\/","title":{"rendered":"Coinseed allegedly converted users&#8217; funds into Dogecoin without their consent"},"content":{"rendered":"<p>Users have accused the cryptocurrency platform Coinseed of unauthorized conversion of their funds into Dogecoin. About 50 people have expressed interest in joining a class-action lawsuit against the company, according to<a href=\"https:\/\/decrypt.co\/69150\/coinseed-mysteriously-switched-dogecoin-customers-say\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> Decrypt<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>Coinseed offered to invest in digital assets via a mobile app. In February 2021, the New York Attorney General charged the project and its top executives with deceiving investors<a href=\"https:\/\/u1f987.com\/en\/news\/new-york-authorities-accuse-coinseed-of-1-million-fraud\"> for more than $1 million<\/a>. The lawsuit against Coinseed was also filed by the U.S. Securities and Exchange Commission.<\/p>\n<p>According to authorities, one of the project\u2019s organizers posed as a former Wall Street trader, but in reality had never worked with securities. The company was also not registered as a broker-dealer.<\/p>\n<p>Participants of the r\/CoinseedSCAM<a href=\"https:\/\/www.reddit.com\/r\/CoinseedSCAM\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> complained<\/a> that Coinseed converted funds into Dogecoin without their consent. Users in the eponymous Facebook group<a href=\"https:\/\/www.facebook.com\/groups\/188733412644870\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> Facebook<\/a> reported large losses due to the platform\u2019s actions and said that some app features were unavailable. <\/p>\n<p>Jason Gottlieb, partner of Coinseed\u2019s attorney Morrison Cohen, told the publication that he refused to cooperate with the company. According to lawyers, the platform\u2019s executives have left the United States.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIt is abundantly clear that the relationship between the attorney and the client has completely broken down,\u201d Gottlieb stressed.<\/em><\/p>\n<\/blockquote>\n<p>Over the past week, Dogecoin\u2019s price has fallen by 32.7%, according to CoinGecko. At the time of writing the coin was trading at around $0.27.<\/p>\n<p>In March 2021, the NYAG warned of <a href=\"https:\/\/u1f987.com\/en\/news\/new-york-prosecutors-warn-that-cryptocurrency-investments-are-extremely-risky\"> \u201cextreme\u201d risk<\/a> of investments in digital assets and reminded participants in the crypto industry of accountability.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Users accused the cryptocurrency platform Coinseed of unauthorized conversion of their funds into Dogecoin. About 50 people said they intended to join a class-action lawsuit against the company.<\/p>\n","protected":false},"author":1,"featured_media":41471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,99,26],"class_list":["post-41470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-dogecoin","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=41470"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41470\/revisions"}],"predecessor-version":[{"id":41472,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41470\/revisions\/41472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/41471"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=41470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=41470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=41470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}