According to Odaily, Manhattan District Attorney Alvin Bragg has announced criminal charges against an individual accused of running a fraudulent cryptocurrency asset recovery business. In a notice dated August 1, the New York State District Attorney's Office stated that Michael Lauchlan has been charged with three counts of grand larceny and two counts of fraud. Lauchlan allegedly stole funds from users of Coin Dispute Network by claiming he could track and recover lost crypto assets. Instead, he reportedly defrauded clients and stole Ethereum from at least three users.