New York AG calls for whistleblowers ‘deceived or affected’ by the crypto market crash

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New York Attor­ney Gen­er­al Leti­tia James has opened the doors for investors who may have wit­nessed mis­con­duct at a cryp­to firm amid the extreme mar­ket volatil­i­ty to file a com­plaint as a whistleblower.

In a Mon­day notice, James called on New York-based cryp­to users who have been locked out of accounts at exchanges or lend­ing plat­forms, unable to access funds, or “deceived about their cryp­tocur­ren­cy invest­ments” to con­tact the Office of the Attor­ney Gen­er­al. As a whistle­blow­er, an indi­vid­ual fil­ing a com­plaint with author­i­ties could be kept anony­mous — the New York Attor­ney General’s web­site already includes the option to sub­mit rel­e­vant doc­u­ments and infor­ma­tion through a Tor Browser.

“Investors were promised large returns on cryp­tocur­ren­cies, but instead lost their hard-earned mon­ey,” said James. “I urge any New York­er who believes they were deceived by cryp­to plat­forms to con­tact my office, and I encour­age work­ers in cryp­to com­pa­nies who may have wit­nessed mis­con­duct to file a whistle­blow­er complaint.”

The AG specif­i­cal­ly called for investors whose funds may have been affect­ed by the Ter­ra (LUNA) — now renamed Ter­ra Clas­sic (LUNC) — crash, as well as those whose with­drawals wepaused or accounts frozen on stak­ing or yield gen­er­a­tion plat­forms includ­ing Cel­sius, Voy­ager, Anchor and Sta­ble­gains. The New York AG’s Investor Pro­tec­tion Bureau will process any com­plaints received.

Relat­ed: Face­book whistle­blow­er warns Meta­verse will repeat ‘all the harms’

In terms of enforce­ment among cryp­to firms, the New York Attor­ney General’s office has seem­ing­ly been at the fore­front among state and fed­er­al author­i­ties in the Unit­ed States. In Octo­ber 2021, the AG cracked down on two cryp­to lend­ing plat­forms it alleged had been oper­at­ing in the state ille­gal­ly by sell­ing and offer­ing secu­ri­ties and com­modi­ties. James’ office also warned cryp­to users in June — amid the falling prices of major tokens — of the risks of the mar­ket, with investors los­ing “​​hun­dreds of billions.”



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