Despite the high volatility of the cryptocurrency market, New York Attorney General Letitia James has made it possible for investors who believe they may have witnessed corruption at a cryptocurrency firm to come forward and file a complaint as a whistleblower.
In a notice published on Monday, Attorney General Letitia James urged residents of the state of New York. They use cryptocurrencies and have had trouble accessing their funds, been locked out of their accounts at cryptocurrency exchanges or lending platforms, or been “deceived about their cryptocurrency investments” to get in touch with her office.
Anyone who files a complaint with authorities may be able to maintain their anonymity if they act as a whistleblower. The website of the New York Attorney General already contains the option to submit pertinent documents and information through a Tor Browser.
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According to James,
“Investors were promised enormous profits on cryptocurrencies, but all they ended up doing was losing their hard-earned money. I urge any New Yorker who believes cryptocurrency platforms deceived them into contacting my office, and I encourage workers in cryptocurrency companies who may have witnessed misconduct to file a whistleblower complaint. I encourage workers in cryptocurrency companies who may have witnessed misconduct to file a whistleblower complaint.”
The Attorney General made a direct appeal to investors whose funds may have been impacted by the Terra (LUNA) crash, which has since been renamed Terra Classic (LUNC), as well as investors whose withdrawals were paused or accounts frozen on staking or yield generation platforms such as Celsius, Voyager, Anchor, and Stablegains.
“New Yorkers Should Be Cautious and Think Twice Before Investing”
The Investor Protection Bureau of the New York Attorney General’s Office will handle any complaints.
The cryptocurrency market is extremely unpredictable. Just last month, the market reached record lows and investors lost hundreds of billions.
New Yorkers should be cautious and think twice before putting their hard-earned money into this unstable market.— NY AG James (@NewYorkStateAG) June 2, 2022
“The cryptocurrency market is extremely unpredictable. Just last month, the market reached record lows and investors lost hundreds of billions. New Yorkers should be cautious and think twice before putting their hard-earned money into this unstable market.”
When it comes to regulating cryptocurrency businesses, it would appear that the office of the New York Attorney General has been at the vanguard of enforcement among state and federal authorities in the United States.
In October 2021, the Attorney General took action against two cryptocurrency loan sites, which he believed to have been conducting illegal business in the state by selling and supplying commodities and securities.
In June, when major token prices were plummeting, James’ office warned users of cryptocurrencies about the dangers of the market, stating that investors may lose ” hundreds of billions of dollars.”
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