The biggest cryptocurrency scam in Croatia? BitLucky allegedly defrauded investors for 70 million euros
Croatian news portal Kriptovijesti.net reports that a major crypto crisis is unfolding in Croatia. Unofficially, it is learned that the Rijeka-based company Bitlucky d.o.o. has encountered difficulties, and the number of affected individuals is estimated to be in the hundreds.
The news about the crisis in BitLucky and the lost millions first leaked in closed groups on Discord, then on Reddit, and eventually, it was all published by the Kriptovijesti portal. According to Kriptovijesti, the company has shut down its official Discord channel, leading investors to gather on WhatsApp to express their concerns that their money has disappeared.
What happened so far?
The company’s director, Luka Burazer, allegedly sent a brief email to the investors stating that he has “unfortunately brought the company into a crisis situation due to a series of bad trades and decisions.” Burazer reportedly reassured the investors multiple times that their money was protected and that he never engaged in cryptocurrency trading with the complete investment amounts. In a WhatsApp group, the investors estimate losses of up to 70 million euros.
It is not possible to contact the company’s director, Luka Burazer, as his phone is turned off. However, Eugen Travalja, the company’s procurator, has reportedly answered the calls to Croatian media, claiming that they had to go into a safe place until they figure out what to do with the investors. They will try to find a way to at least return the initial investments. According to reports, a few investors who called the company in Rijeka were allegedly told by the secretary over the phone that the “director went crazy and spent all the money.”
People describe Burazer as someone who didn’t give the impression of being a fraudster. They say he had a good understanding of money movement, global financial conditions, and often successfully predicted the rises and falls in cryptocurrency values.
UBIK issued a statement
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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