Posted 2/9/2024, 6:36:00 PM
New York Attorney General Sues Digital Currency Group for Over $3 Billion Alleging Crypto Fraud Scheme
- New York AG Letitia James expanded lawsuit against Digital Currency Group to over $3 billion for alleged crypto fraud scheme
- Lawsuit targets DCG, its Genesis Global Capital unit, Gemini Trust co-founded by Tyler and Cameron Winklevoss
- James claims over 230,000 investors were defrauded through Genesis Earn program lending crypto in exchange for high returns
- Genesis filed for bankruptcy in January 2023 after halting withdrawals; reached settlement with NY AG to repay customers
- Lawsuit seeks over $3 billion in restitution for investors; James calls for stronger crypto regulations to protect investors