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ALBANY, Ga. (WALB) – The South Georgia Judicial Circuit (SJDC) announced Tuesday that at least 22 individuals from across the region invested millions into “XUSD,” a crypto coin marketed as the first “asset-backed” cryptocurrency.
The SJDC says that investors were told the cryptocurrency was “on the verge of release” and that the coin would launch “within a month” of Jan. 2025 and “immediately double in value.” However, the cryptocurrency still has not been released to the market.
District Attorney Joe Mulholland’s office, the Baker County Sheriff’s Office, and the Decatur County Sheriff’s Office are investigating.
They say there could be hundreds of other victims from South Georgia, North Florida, from across the country, and internationally.
Investigators are asking anyone who may have invested in XUSD, or another “asset-backed” cryptocurrency within the past year to contact law enforcement via email at XUSD.TIPS@BAKERSO.ORG .
They also want to reassure the public that “The South Georgia Judicial Circuit remains committed to protecting the public and pursuing accountability in cases involving financial fraud.”
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