Crypto platform Coinseed has said it is closing. The reason for this was a recent claim received by the platform from the Attorney General of NY City.
Back in the winter of 2021, Coinseed management was charged by Laetitia James with deceiving investors in the amount of over $1 million. She stated that the platform tokens, called CSD, sold 200,000 during the ICO in 2017, are useless and stressed that Coinseed does not have a broker-dealer license. Sometime later, NYAG filed a motion to shut down the company and stop all of its operations.
Coinseed executives were outraged that America's largest exchange, Coinbase, as well as Gemini and Kraken, are also not licensed broker-dealers. But representatives of the platform believe that their colleagues simply have “enough funds” to defend their own interests in court in the event of lawsuits. This is the reason why the department does not make a claim to them.
Coinseed co-founder Delgerdalai Davaasambuu said the decision to shut down the platform was difficult for him. Apparently, he seriously took up arms against Letitia James, finally creating his own "comic" FLJ (Fuck Letitia James) token and urged all who are not indifferent to participate in the airdrop. He also noted that FLJ will soon appear on some DeFi sites.
In order to reserve its share of tokens as part of the distribution, the platform asks to send a commission of 0.002 ETH to the wallet specified on the Coinseed website. However, we draw your attention to the fact that such "distributions" with a request to send a certain amount to the specified address have already occurred more than once in social networks and almost always turned out to be the intrigues of scammers.
Coinseed executives said that being based in New York was their main inaccuracy and advised everyone who intends to develop their own business in the cryptocurrency industry to avoid this city.
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