In a significant move against cryptocurrency fraud, the U.S. Homeland Security Investigations (HSI) has charged Michael Lauchlan, the operator of Coin Dispute Network (CDN), with multiple counts of fraud. Lauchlan allegedly used his sham business to exploit customers by promising to trace and recover lost cryptocurrency for a fee but instead pocketed the money and provided false reports.
HSI’s New York task force, in collaboration with the Manhattan District Attorney’s Office, conducted a thorough investigation revealing that between July 2022 and June 2023, CDN defrauded numerous clients. Lauchlan, under the alias “Max Handler,” misled clients with false claims and fabricated documentation. The fraudulent activities culminated in his arrest on July 31, 2024 .
Lauchlan is accused of grand larceny and multiple counts of scheme to defraud, marking a notable step in combating fraudulent crypto recovery schemes. The investigation also highlighted the role of partnerships between HSI, local law enforcement, and international agencies in addressing the growing threat of crypto-related fraud .
Authorities urge individuals who believe they have been victimized by such schemes to contact HSI’s Tip Line or the Manhattan District Attorney’s Office for assistance .
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
