New York authorities announce charges against individuals who used a "fake cryptocurrency asset recovery business" to defraud

Alvin Bragg, the US attorney for the Manhattan district, has announced criminal charges against an individual for defrauding clients using a "fake cryptocurrency asset recovery business".
In an Aug. 1 notice, the New York State District Attorney's Office said it had charged Michael Lauchlan with three counts of grand larceny and two counts of fraud for stealing money from Coin Dispute Network users. According to the district attorney, Michael Lauchlan claimed to be able to track and recover lost crypto assets, but in fact it defrauded customers of fees and stole ether from at least three users.