Crypto trading app that converted customer funds into DOGE shut down

2021-9-14 14:32

The order to shut down trading app Coinseed was given by New York's Supreme Court

Coinseed, a cryptocurrency trading platform that allegedly converted its customers' funds into the meme coin Dogecoin without informing them, has been asked to permanently cease its operations.

According to a Bloomberg news report, the order for Coinseed to shut down comes after the New York Attorney General sued founders of the embattled exchange for fraud.

The main complaint against Coinseed related to the platform's move to secretly convert customer funds to DOGE, the original meme coin that gained massive retail interest following support from Tesla CEO Elon Musk among other celebrity figures.

New York Attorney General Letitia James brought charges against Coinseed in February and obtained a court order that asked the platform to stop all its activities. However, the platform allegedly carried on, with the operators then moving ahead to freeze customer withdrawals.

Worse, it's claimed the platform wiped out some customer accounts, drawing more complaints even as the matter remained active in court.

"A judge ruled in favor of our lawsuit to shut down the cryptocurrency trading platform Coinseed app and installed a permanent receiver to protect investors' funds. Coinseed can no longer continue its fraudulent and illegal conduct that cheated investors out of millions," James said via the official NYAG Twitter account.

Attorneys reportedly filed more than 100 complaints against the exchange, with most of the victims reporting losing thousands of dollars over the past several months. In total, the exchange is said to have defrauded its clients of over $1 million in digital assets and deposits.

As well as being asked to stop all operations, the Coinseed team has been slapped with a $3 million fine.

The exchange was also sued by the US Securities and Exchange Commission (SEC) on charges of operating illegally and misleading investors.

The post Crypto trading app that converted customer funds into DOGE shut down appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Open Trading Network (OTN) на Currencies.ru

$ 0 (+0.67%)
Объем 24H $0
Изменеия 24h: 1.44 %, 7d: 12.76 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0064948 (-100%)

down app shut trading crypto doge customer

Источник: coinjournal.net

down app → Результатов: 126


Фото:

EXCLUSIVE Interview: Freewallet speaks out after Elon Musk claims the app “sucks”

After Tesla CEO Elon Musk criticised the popular online wallet platform Freewallet last Monday (8th February), we wanted to hear both sides of the story.  Freewallet told us that no publication has yet heard what they had to say, so the Invezz team sat down with their Head of Public Relations, Solomon Brown, to get […] The post EXCLUSIVE Interview: Freewallet speaks out after Elon Musk claims the app “sucks” appeared first on Invezz.

2021-2-13 18:30


Фото:

Elon Musk Shoots Down Crypto Wallet App Freewallet After It Tried to Ride His Dogecoin Fame

An attempt to capitalize on the ongoing hype around Dogecoin has backfired for the crypto wallet app Freewallet after it was called out online in a tweet from Elon Musk. Musk Proclaims ‘Your app sucks,’ In Blunt Tweet Directed at Freewallet Freewallet, riding on the Elon-Doge rocket of publicity, released a tweet telling people to […]

2021-2-11 08:30


Фото:

Alleged Crypto Yuan Images Leak Online as China Finalizes Blockchain Coalition

China is not slowing down in its blockchain ambitions and is in the final stages of the formation of a new coalition dedicated to the technology. The launch of its highly anticipated central bank digital currency has also been stepped up as leaked screenshots of the DC/EP app reveal that it could already be in […] The post Alleged Crypto Yuan Images Leak Online as China Finalizes Blockchain Coalition appeared first on BeInCrypto.

2020-4-15 10:40


Statizex ICO

We defined our development strategy based on empirically acquired knowledge and on the analysis of the work of existing platforms. We spent a lot of time, effort and money developing the statizex platform, faced many challenges and solved many technological issues during its creation, this allowed us to develop a trading platform that fully meets the modern market requirements and high modern technological standards of speed and safety.

2019-10-24 21:03


Фото:

Kin Cryptocurrency Will Integrate Into Kik Messenger (And 27 Other Apps)

Following much speculation over the fate of the once-popular messaging app, it is finally clear now that Kik Messenger won’t be discontinued — at least not in the immediate future. The clarification comes weeks after Kik Interactive stated that it was shutting down the messaging app to focus entirely on the company’s maiden venture into […] The post Kin Cryptocurrency Will Integrate Into Kik Messenger (And 27 Other Apps) appeared first on BeInCrypto.

2019-10-20 08:18


In-person meatspace protocol to prove unconditional possession of a private key

Recommended pre-reading: https://ethresear. ch/t/minimal-anti-collusion-infrastructure/5413 Alice slowly walks down the old, dusty stairs of the building into the basement. She thinks wistfully of the old days, when quadratic-voting in the World Collective Market was a much simpler process of linking her public key to a twitter account and opening up metamask to start firing off votes.

2019-10-2 04:03


Фото:

Messaging App Kik’s Legal Battle Shines Light on Past ICO Scams

Popular messaging app Kik is shutting down due to a Securities and Exchange Commission lawsuit regarding ICO activity for the company’s cryptocurrency, kin. Ted Livingston, Founder and CEO of Kik and Kin, denies the allegations and maintains that the SEC’s case is based on mischaracterizations, but that shutdown for Kik is necessary to focus on […] The post Messaging App Kik’s Legal Battle Shines Light on Past ICO Scams appeared first on Bitcoin News.

2019-9-25 16:20


Фото:

Kik fires staff and shuts down messaging app but won’t stop fighting the SEC over its ICO

Following an embroiled relationship with the US Securities and Exchange Commission over its cryptocurrency come security token Kin, it appears that messaging app Kik‘s days are numbered. Kik‘s CEO, Ted Livingston, said in a blog post this morning that the ongoing fight with the SEC has left the company with no other decision but to shut down its messaging app.

2019-9-24 13:01


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru