New York State Attorney General Letitia James has announced charges against Coinseed, a crypto investment platform, for allegedly defrauding investors out of more than $1 million. The filing centers around an ICO for Coinseed's CSD token, held in December 2017. The company allegedly raised over $100,000 through the sale of 200,000 of these CSD tokens. The NYAG claims the tokens had "no functionality" in the company's mobile application, noting that these tokens were "not required to use the trading platform, or not manage one's account." The state has also said Coinsend traded crypto without registering as a broker-dealer. "Attorney General James seeks to stop Coinseed and the two individual defendants from further operating as unregistered commodities broker-dealers through their mobile application, as well as return investments of Coinseed's worthless cryptocurrency, the CSD token," said a statement. The SEC has also filed a related lawsuit against the company.