Alleged victims of Bitcoin scams are demanding 10 billion euros from the EU


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Thirty-one plaintiffs have asked a lawyer to set up a fund for victims of crypto-scams by the EU. For a total loss of 15 million euros they want to be compensated with 10 billion euros.

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The largest illegitimate transfer of property since the Nazi era - that’s how the lawyer Jonathan Levy describes the damage caused by crypto-scams in recent years. Levy represents 30 plaintiffs claiming to have lost more than US $ 16.8 million (just under € 15 million) through “cryptocurrency-related crimes”. Now they demand from the European Union the establishment of a victim fund in the amount of 11.2 billion US dollar (approximately 10 billion euro). That it comes from a press release out that initially the Australian crypto news site micky.com.au been present was.

EU fund for Bitcoin scam victims

The money to fill the fund should collect the EU at the same time in several places. On the one hand, Bitcoin network nodes (nodes) have to be taken into account. The narrative of decentralization does not mean that cryptocurrencies are immune from the long arm of the law, says Levy. According to the lawyer, every node carries responsibility for the entire network. As the majority of Bitcoin Nodes are located in the European Union, they are under EU jurisdiction, Levy continued.

Also Facebook in the line of fire

In addition to the Nodes, the operators of Bitcoin anonymization services (so-called Bitcoin mixers ) as well as the Facebook group for the Bitcoin fund will be fleeced. Levy sees Facebook in the responsibility, because on the platform also fraudulent crypto advertisements were switched - at least, up to the ( now again relaxed ) crypto advertising ban on Facebook.

The establishment of a fund was necessary because the masterminds of the scams had largely blurred their tracks:

The largest illegitimate transfer of property since the Nazi era - that’s how the lawyer Jonathan Levy describes the damage caused by crypto-scams in recent years. Levy represents 30 plaintiffs claiming to have lost more than US $ 16.8 million (just under € 15 million) through “cryptocurrency-related crimes”. Now they demand from the European Union the establishment of a victim fund in the amount of 11.2 billion US dollar (approximately 10 billion euro). That it comes from a press release out that initially the Australian crypto news site micky.com.au been present was.

EU fund for Bitcoin scam victims

The money to fill the fund should collect the EU at the same time in several places. On the one hand, Bitcoin network nodes (nodes) have to be taken into account. The narrative of decentralization does not mean that cryptocurrencies are immune from the long arm of the law, says Levy. According to the lawyer, every node carries responsibility for the entire network. As the majority of Bitcoin Nodes are located in the European Union, they are under EU jurisdiction, Levy continued.

Also Facebook in the line of fire

In addition to the Nodes, the operators of Bitcoin anonymization services (so-called Bitcoin mixers ) as well as the Facebook group for the Bitcoin fund will be fleeced. Levy sees Facebook in the responsibility, because on the platform also fraudulent crypto advertisements were switched - at least, up to the ( now again relaxed ) crypto advertising ban on Facebook.

The establishment of a fund was necessary because the masterminds of the scams had largely blurred their tracks:

Most victims can only hope for compensation from a total fund; The criminals are anonymous and well-hidden, using domain proxies, fake and stolen identities, offshore accounts and Bitcoin Mixing to hide from the judiciary.

According to the press release, Levy addressed the request to EU Commissioner for Justice and Consumer Protection, Věra Jourová. With concrete details of the frauds his clients are said to have succumbed to, Levy holds back. He wanted to wait until the Commission confirmed receipt of his letter.

source https://www.btc-echo.de/angebliche-opfer-von-bitcoin-scams-fordern-10-milliarden-euro-von-der-eu translated by @tolgn1907