The crypto trading platform Coinseed is shutting down operations according to a written statement from the companyâ€™s CEO Delgerdalai Davaasambuu. A court order secured by New York Attorney General Letitia James told Coinseed to halt all of its operations. Following the announcement of the shutdown, Coinseedâ€™s CEO said he created an ERC20 token called â€œFLJâ€ thatâ€™s dedicated to Attorney James â€œand her cronies.â€
New York Attorney General Letitia James Obtains Court Order, Agency Claims 170 Complaints Filed
Coinseed is calling it quits after the firm was served with a court order to continue â€œa mandated pauseâ€ on operations. Bitcoin.com News reported during the first week of May when James announced that the attorney general took â€œlegal actionâ€ against Coinseed. The platform was also instructed by the U.S. government to â€œimmediately haltâ€ all operations.
The court order obtained by the New York Attorney General (NYAG) and the press release that followed, said that the shutdown is meant to ensure the â€œprotection of investorsâ€™ money going forward.â€ Moreover, the NYAG claimed it obtained more than 170 complaints from investors involved with Coinseed operations.
â€œWhen platforms operating illegally in New York seek to trade on investorsâ€™ money, we will use every tool at our disposal to stop their unlawful actions,â€ said Attorney General James. â€œThis order appoints a court-appointed receiver before any other investments are squandered by Coinseed and its CEO. We will not allow rogue operators to hold innocent investorsâ€™ funds hostage,â€ the NYAG added.
Coinseed CEO Tells NY Crypto Operators To Run Away, FLJ Token Created for â€˜NYAG and Her Croniesâ€™
The companyâ€™s CEO Delgerdalai Davaasambuu wrote on the website coinseed.co that the companyâ€™s â€œfatal mistakeâ€ was its association with the state of New York. In 2017, Coinseed conducted an initial coin offering (ICO) and the CEO claims it was raised from â€œnon-US investors (mostly European) to support Coinseedâ€™s future development.â€
â€œImmediately upon our ICO, they subpoenaed us over the ICO and they have been constantly harassing us for the last 3 years,â€ the Coinseed executive stressed. He added:
The Coinseed CEO also detailed that he created a token for â€œNYAG Letitia James and her croniesâ€ and itâ€™s called FLJ (F*** Letita James). Davaasambuu left the FLJ contract address and told people to check it out. It will be listed on a myriad of decentralized finance (defi) platforms soon and â€œwill be available for trading,â€ Davaasambuu concluded.
â€œIâ€™ll also donate some FLJ token to the NYAG office ðŸ™‚ to support their other causes,â€ the Coinseed CEO said at the end of his letter.
What do you think about Coinseed shutting down operations and the FLJ token airdrop? Let us know what you think about this subject in the comments section below.
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