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Fraud Cases Increase In Cryptocurrency 'Wild West'
The cryptocurrency market has soared over the last few years with more than 6,000 digital currencies now being traded globally. Investors more frequently use public crypto sales, or "coin offerings," to diversify their portfolios. However, when something goes wrong with the investment and fraud victims seek legal help, disputes often turn out to be a major challenge for plaintiffs and law firms.
U.S. Security and Exchange Commission Chairman Gary Gensler recently referred to the growing crypto space as the "Wild West" at the Aspen Security Forum in August.
Labaton Sucharow New York-based partner Eric J. Belfi fears that dark times could be ahead as a result of booming crypto investments in a minimally regulated marketplace.
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