New York Attorney General Letitia James has made it possible for investors who may have noticed misconduct at a crypto firm during the extreme market volatility to file a whistleblower complaint.
In a Monday notice, James urged New York-based cryptocurrency users who have been locked out of accounts at exchanges or lending platforms, have not been able to access funds, or have been duped about their cryptocurrency investments to contact the Attorney General’s Office. An individual filing a complaint with authorities as a whistleblower could remain anonymous — the New York Attorney General’s website already comprises the option to submit relevant documents and information using a Tor Browser.
Investors were guaranteed high returns on cryptocurrencies, but instead lost their money, James said. I encourage any New Yorker who believes they have been duped by crypto platforms to contact my office, and I encourage employees in crypto companies who have witnessed misconduct to file a whistleblower complaint.
The AG specifically requested information from investors whose funds may have been affected by the Terra (LUNA) — currently renamed Terra Classic (LUNC) — crash, and those whose withdrawals were halted or accounts were frozen on staking or yield generation platforms such as Celsius, Voyager, Anchor, and Stablegains. Any complaints received will be handled by the New York Attorney General’s Investor Protection Bureau.
In terms of crypto firm enforcement, New York Attorney General’s office appears to be at the forefront of state and federal authorities in the United States. In October 2021, the AG took action against two crypto lending platforms that it claimed were selling and offering securities and commodities illegally in the state. James’ office also warned crypto users in June, amid falling token prices, of the market’s risks, with investors losing “hundreds of billions.”
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