In a statement released on August 1st, the District Attorney's office in New York announced charges of three counts of grand larceny and two counts of fraud against an individual identified as Michael Lauchlan. The charges stem from allegations that Lauchlan stole funds from users of Coin Dispute Network under the guise of having the ability to track and recover lost digital assets. According to the prosecutor's office, Lauchlan was merely using this pretense to fraudulently charge clients and has allegedly stolen at least three users' ether. This incident highlights the severity of fraudulent activities in the cryptocurrency industry and serves as a reminder to investors to exercise caution and take appropriate safety measures.