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13 May 2021

Coinseed Mysteriously Switched User Accounts to Dogecoin, Customers Say - Decrypt

Coinseed Mysteriously Switched User Accounts to Dogecoin, Customers Say - Decrypt


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Customers of crypto savings app Coinseed say that the company has converted their deposits to Dogecoin without their consent and won’t process their withdrawals.

“This entire thing has made me pretty sick,” said Ace201613 on r/CoinseedSCAM, a subreddit that angry customers set up to log their fury and to coordinate a response.In a Facebook group of the same name, two customers report losses of over $100,000, and dozens for lesser sums.

Morrison Cohen announced its intention to cut ties with Coinseed on April 21.

In SEC filings, Coinseed said that Lkhagvadorj has worked at “multiple Wall St

Morrison Cohen, the law firm that’s trying to get out of the case, thinks that Davaasambu returned to Ulaanbaatar, Mongolia

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