After presumably 1000’s of buyers obtained burned by arbitrage-trading firm Optioment final yr, Austrian authorities have requested Interpol to assist monitor down the fraudsters chargeable for the Bitcoin rip-off.

Another Bitcoin Scam Burns Buyers
European authorities are on the hunt for criminals concerned in defrauding 1000’s of people and shedding over $100 million value of buyers’ Bitcoin.
According to experiences, Optioment ran a now-defunct web site whereas holding large-scale occasions in Austria — by which the corporate marketed itself as a “non-public Costa Rica-based Bitcoin fund” promising unrealistic returns. Law agency Lansky, Ganzger & Partner claims Optioment promised weekly curiosity funds upwards of 4 p.c on long-term Bitcoin deposits, with the added incentivization of inviting new customers.
Optioment apparently paid out returns on a well timed foundation in the beginning of its operation, which boosted investor confidence and inspired customers to reinvest within the scheme. Sometime across the huge bull run in November and December of final yr, nevertheless, the returns stopped coming, and the fraudulent scheme collapsed.
Spokeswoman Christina Ratz informed Bloomberg that prosecutors in Vienna are consolidating “tons of of complaints” in opposition to the fraudulent firm, and Die Presse initially reported that upwards of 10,000 people have been victimized, leading to roughly 12,000 misplaced bitcoins — at present value an estimated $118.5 million on the time of this writing.

According to Bloomberg, no arrests have but been made, however Interpol has been requested to analyze people in Denmark, Latvia, and Germany.
Reinforcing European Rhetoric
The hunt for Optioment’s operators comes at a time when some European nations are calling for a crackdown on cryptocurrency.
French Finance Minister Bruno le Maire and interim German Finance Minister Peter Altmaier have gone on document to state that cryptocurrencies are dangerous for buyers and threaten long-term international monetary stability.
British Prime Minister Theresa May has additionally expressed issues over cryptocurrency’s legal utilization, stating that she is trying “very significantly” at cryptocurrencies “due to the way in which they’re used, significantly by criminals.”

Additionally, European Central Bank board member Yves Mersch has just lately acknowledged that cryptocurrencies are “not cash, nor will they be for the foreseeable future.”
Most just lately, the European Supervisory Authorities (ESAs) have additionally just lately issued a press launch warning shoppers of the risks related to shopping for cryptocurrency.
Do you assume scams like Optioment are completely damaging the repute of cryptocurrency in Europe and around the globe? Let us know within the feedback under!

Images courtesy of Wikimedia Commons/@Plani and Bitcoinist archives.
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