October 4, 2022

New York Attorney General Letitia James is encouraging New Yorkers affected by the crypto crash to speak to her office about their experiences with digital asset exchanges.

In a new Investor Notice, the New York Attorney General’s Office says encourages crypto industry whistleblowers to also approach the office.

“New York Attorney General Letitia James today issued an investor alert urging any New Yorkers defrauded or affected by the cryptocurrency crash to contact her office. Many high-profile cryptocurrency firms have frozen customer withdrawals, announced mass layoffs or filed for bankruptcy, while investors have been left in financial ruin.

As part of the ongoing investigative work of the Office of the Attorney General (OAG), the OAG is interested in hearing from New York investors who have been locked out of their accounts, unable to access their investments, or who have been defrauded regarding cryptocurrency the investments”.

As James said,

“The recent turbulence and significant losses in the cryptocurrency market are worrying.

Investors were promised big returns in cryptocurrencies, but instead lost their hard-earned money. I urge any New Yorker who believes they have been defrauded by crypto platforms to contact my office, and I encourage employees at crypto companies who may have witnessed misconduct to file a whistleblower report.”

Crypto turmoil has so far been a thing of 2022. With Bitcoin (BTC) plunging from its November 2021 all-time high of $69,000 to its current value of $23,354, many crypto businesses have collapsed alongside the market, notably Celsius, Travelerand Three Arrows Chapter.

The release from the New York Attorney General’s Office says investors affected by these and other such companies should contact the state’s Office of Investor Protection.

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