On April 29, 2026, the Office of the New York Attorney General announced that it has secured more than $5 million from the cryptocurrency platform Uphold HQ, Inc. (Uphold) for allegedly  misleading investors and promoting a fraudulent cryptocurrency investment scheme purportedly orchestrated by Cred, LLC (Cred) and it’s Chief Executive Officer.

According to the OAG, an investigation found that Uphold misleadingly promoted and offered Cred’s investment product, CredEarn, to its customers, in violation of New York law.

Uphold purportedly advertised CredEarn as a reliable savings product, when allegedly, Cred was making risky loans to borrowers in China with no credit histories.  When Cred “collapsed” in 2020, thousands of…