Coinseed will close its operations soon
Cryptocurrency trading platforms are used to facing regulatory scrutiny in various parts of the world, mostly due to the regulator not fully understanding how crypto exchanges function. This has forced some of the platforms to either relocate to more friendly jurisdictions or shut down their services.New York-based Coinseed is the next in line after the crypto trading firm revealed that it would shut down its operations following a recent lawsuit by the New York State Attorney General (NYAG). Coinseed CEO Delgerdalai Davaasambuu said, “I started Coinseed with the idea to create the next generation of crypto investing by making it easier to invest in cryptocurrencies. We were able to create and deliver the best version of what I imagined Coinseed to be. So 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.”
Attorney general Letitia James accused the crypto trading platform and its executives of defrauding investors of over $1 million and breaking United States laws in the process. The NYAG went on to file a court order last month, seeking to freeze Coinseed’s trading activity and stop all its operations. Yesterday, the NYAG obtained the court order to block the crypto trading platform’s activities and ensure the protection of investors’ funds.
The CEO said he is not sad and frustrated that he has to shut down Coinseed. He maintains that the crypto trading platform hasn’t done anything wrong, and Coinseed made a serious mistake by basing in New York.
Coinseed to refund investors
The exchange said it would return user funds to them. “As for the user funds, it will be returned soon, and we’re interviewing law firms to hire for the matter. They will reach out to you before long. However, please annoy the NYAG as much as you can since they are the people who caused all the mess. Call them, email them, write letters to them, curse them. The more, the better,” the CEO added.The NYAG revealed that it has received over 170 complaints from concerned investors regarding the safety of their assets following Coinseed’s alleged fraudulent activities.
Continue reading by joining Cryptonary Pro
$1,548 $997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
24/7 access to experts with 50+ years’ experience Terms
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
Recommended from Cryptonary
