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NYAG closes Coinseed by turning customer money into DOGE without consent
09 / 13 / 2021Bitcoin Ethereum News
The New York Attorney General (NYAG) has won a victory against crypto-exchange Coinseed with its fake transactions for cheating dogecoin and customers.
On September 13, NYAG's Letitia James ordered Coinseed Inc. was ordered to permanently suspend operations and pay $3 million in fines after being accused of freezing payouts and converting customer funds into Dogecoin (DOGE) without consent. The stock exchange also emptied its bank accounts and issued unlicensed securities, according to Bloomberg.
Despite previous court rulings in which Coinseed ceased operations, James also found that the company continued to engage in "appalling and fraudulent activity" while the case continued under Law 360:
"In defiance of court rulings, this company has continued to engage in illegal and unethical activities, holding investors' money hostage and highlighting the risks of investing in unregistered virtual currencies."
https://et.bitcoinethereumnews.com/technology/nyag-shuts-down-coinseed-for-converting-customer-funds-into-doge-without-consent/