According to CoinMeta, the Attorney General of New York announced a settlement with the aforementioned individual, requiring them to pay $35 million and imposing a lifetime ban from engaging in the securities and cryptocurrency industries. The individual was accused of misleading hundreds of thousands of investors, particularly 26,000 investors in New York, regarding the security of the platform and using their deposits for high-risk investments, resulting in significant losses. The Attorney General criticized the deceptive practices of this individual for putting many investors in financial distress and stated that action would be taken to hold them accountable. The individual is currently serving a 12-year prison sentence, and more than $48 million was confiscated in connection with this criminal case. Under the settlement agreement, the individual is required to pay $35 million to New York and comply with federal confiscation and sentencing requirements.