Unofficially, the Rijeka-based company Bitlucky d.o.o. is experiencing difficulties, and the number of affected individuals is estimated at hundreds, according to the Croatian news portal Kriptovijesti.net.
The news about the crisis in BitLucky and the lost millions first leaked in closed groups on Discord, then on Reddit, and eventually, all of it was published by Kriptovijesti. Investing concerns have been expressed on WhatsApp after the company shut down its official Discord channel, according to Kriptovijesti.
How It Happened.
As a result of his bad trades and decisions, Luka Burazer, the company’s director, allegedly sent a brief email to investors stating that he has “unfortunately brought the company into a crisis situation.” Several times, Burazer assured investors that their money would be protected and that he would never trade cryptocurrency with all the investment amounts. Investors estimate losses of up to 70 million euros in a WhatsApp group.
It is impossible to reach Luka Burazer, the company’s director, as his phone is currently off. Meanwhile, it appears that Eugen Travalja, the company’s procurator, has responded to Croatian media inquiries, claiming that they have had to find a secure location while they determine their next steps with investors. They hope to manage to reimburse at least the initial investments. As per reports, some investors who got in touch with the firm based in Rijeka were allegedly informed by the secretary that the “director went crazy and spent all the money.”
Burazer is described as someone who didn’t give the impression of being a fraudster. He was well versed in money movements and global financial conditions, and he often correctly predicted cryptocurrency price movements.
The Croatian Association for Blockchain and Cryptocurrencies (UBIK) issued a statement regarding media reports about the alleged largest cryptocurrency scam in Croatia, supposedly conducted by the Rijeka-based company BitLucky.
UBIK further clarifies that BitLucky is not a member of their association, and at this moment, they have no knowledge other than what has been speculated in the media. They add that the head of this company, despite some claims in the media, was not a prominent member of the Croatian crypto community and did not receive any exposure at UBIK-organized roundtable discussions or conferences in Croatia or elsewhere.
Is BitLucky a scam after all?
At this point – nothing is certain, but it does look bad. Croatian entrepreneur and crypto enthusiast Hrvoje Prpić has also commented on this case. He referred to the concept of the Rijeka-based company as a scam, specifically calling it a Ponzi scheme: ”He was using funds from one client to pay the profits of another. They promised returns ranging from 5 to 25 percent per month, which is not realistically achievable, and now it has been revealed as a fraudulent scheme.”
The police responded that they have certain information at their disposal, both from media reports and from several citizens who have contacted the Primorje-Gorski Kotar Police Department. Those who have suffered losses are encouraged to seek assistance from relevant institutions.
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