The Winklevoss twins and their cryptocurrency exchange Gemini are being sued for fraud by investors

The sale of interest-bearing products is the subject of a lawsuit by investors.

According to a complaint filed in the US Southern District of New York on Tuesday, the company and the twins are accused of fraud.

Customers who still had holdings in the program were wiped out by the sudden halt of the program. Genesis Global is a key partner of Gemini's and was affected by FTX.

Brendan Picha and Max J. Hastings, who are listed as two of the defendants in the filing, claim that the assets were not registered as securities in accordance with US securities law.

All investors who still had holdings in the program were wiped out by the refusal to honor any further investor redemptions. Genesis encountered financial distress as a result of a series of collapses in the digital currency market. Genesis was not able to return the assets it borrowed.

The company did not respond to the request for comment.