The New York Attorney General (NYAG) has won a victory against crypto exchange Coinseed for its dodgy dealings with Dogecoin (DOGE) and defrauding its customers. On Monday, NYAG Letitia James ordered Coinseed Inc. to permanently halt operations and pay $3 million in fines after it had been accused of freezing withdrawals and converting client funds into DOGE without consent. The exchange also emptied its bank accounts and issued unlicensed securities, according to Bloomberg. Despite previous court orders ordering Coinseed to cease operations, James also found that the company continued to partake in “egregious and fraudulent activities,” while the case was …

Coinseed, a crypto platform that enabled micro-investing in cryptocurrency assets for its users, has shut down its operations. Delgerdalai Davaasambuu, founder and CEO of Coinseed, announced the decision via a statement published on the platform’s website. Detailing his decision to shutter the business, Davaasambuu wrote: “It is with an incredibly heavy heart, today I’m announcing that I am winding down the business due to a lawsuit from the NYAG (New York Attorney General).” As previously reported by Cointelegraph, the Office of the New York State Attorney General brought fraud charges against Coinseed back in February. At the time, the NYAG …