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
Luke BelmarIndividualsCryptocurrency influencer Luke Belmar (@lukebelmar on X) became the subject of controversy following allegations related to the promotion of a memecoin. Critics on social media alleged that Belmar used a series of posts referencing a forthcoming cryptocurrency project and a large-scale airdrop to generate interest in a token without explicitly identifying a specific contract address. Belmar published multiple posts discussing an upcoming memecoin, describing plans for what he characterized as a major airdrop and making comparisons to other cryptocurrency projects. Because no contract address was publicly provided, several tokens emerged claiming association with his statements. Critics alleged that this ambiguity enabled speculation around multiple tokens while avoiding a direct endorsement of any particular asset.
HEX / PulseChain (Richard Heart)ProjectsCrypto projects (HEX, PulseChain, PulseX) created by Richard Heart (Richard Schueler). In July 2023 the U.S. SEC sued him for offering unregistered securities that raised $1B+ and for allegedly misappropriating ~$12M for luxury goods (including a 555-carat diamond). A court dismissed the case in 2024 for lack of U.S. jurisdiction; there was no finding of wrongdoing and Heart denies the allegations.
This page was last updated on Jun 15, 2026. View revision history.
