Himalaya Exchange customers launch legal action against the U.S. Department of Justice

Thousands of Himalaya Exchange investors are taking legal action against the U.S. Department of Justice (DOJ). They are demanding the release of their frozen funds and compensation for damages, including asset losses and investment return losses caused by the DOJ's actions. The plaintiffs suspect that the DOJ's actions may be under external influence and worry that they might be inadvertently in line with the policies of the Chinese Communist Party (CCP), though this claim is baseless. The legal filing argues that the DOJ's actions were predatory and illegal, harming those who invested in Himalaya Coin and Himalaya Dollar. The U.S. government, through the U.S. Attorney for the Southern District of New York and the FBI, claims to have confiscated about $634 million from 21 bank accounts, alleging them to be the proceeds of fraud and is seeking permanent forfeiture. It also claims that over $262 million in victim funds were fraudulently accessed through the Himalaya Exchange. The Himalaya Exchange emphasizes its commitment to independence and data privacy and says it's an important alternative for the global expat Chinese community. The legal action meets all legal requirements and aims to streamline the process and ensure a fair resolution.