Delgerdalai Davaasambuu
Co-founder and CEO of the Coinseed crypto app. The SEC and NY AG said he sold unregistered CSD tokens, faked his management credentials, and traded customers' funds without permission; a NY court entered a $3M judgment and shut the platform down in 2021.
Also known as: Delgerdalai Davaasambu
Bio
Delgerdalai Davaasambuu co-founded and led Coinseed, controlling its operations. The NY AG alleged he fabricated his experience to market the app, sold unregistered securities, and traded in investors' accounts without authorization before blocking access. [1][2]
Status
The SEC and NY AG sued in February 2021 (civil). In September 2021 a New York court shut down Coinseed, appointed a receiver, and entered a $3 million judgment against Davaasambuu and the company. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
- SEC Charges Coinseed and Its CEO — U.S. SEC
- AG James Shuts Down Coinseed; $3M Judgment Against CEO — New York Attorney General
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.