New York Attorney General Letitia James has filed an amended lawsuit against Digital Currency Group (DCG) seeking over $3 billion for defrauded investors.

The suit accuses DCG and its executives of misleading investors about the security of their investments, resulting in over $2 billion in losses.

The action builds on a previous lawsuit involving Gemini Trust Company, Genesis, and DCG concerning the Gemini Earn program.

Investigations reveal that DCG and Genesis allegedly concealed loan defaults and financial problems, impacting over 230,000 investors.

Attorney General James is pushing for tougher cryptocurrency regulations and legal measures to protect investors.

James urges victims to report fraudulent activities, signaling an increased scrutiny of the crypto industry.