Blockchain News: Fraudulent Scheme Rising over $ 80M Exposed

Blockchain News: Fraudulent Scheme Rising over $ 80M Exposed

The police have arrested the founder of Komodore64 – a crypto startup from the Netherlands. According to the founder of the company Sam N., K64 allegedly raised $86 million (78 million euros) in growth capital. After the statement, a fair number of individuals have invested in Komodore64. But about two weeks ago, the company has declared bankruptcy.

The topic has recently become blockchain news as the game used the blockchain for all transactions in native crypto. As a result, neither of the parties received its bill. All the investors, suppliers, and even employees have been cheated.

K64 celebrated the official launch of the startup in June. According to Sam N., the American multinational investment bank, Goldman Sachs was attributed as the main investor of the launch party, which is worth several thousands of euros. It appears that random individuals stole the firm representatives’ identities.

Does the arrest have anything to do with the bankruptcy of the company? John Dullaart, the curator of the company, is not certain. But it is clear that the blockchain startup failed.

Although, there are more dark details in this crypto saga. Dullaart said that Max Theyse, never really occupied the co-founder position of K64. However, Sam N. had previously presented him as one.

Cybercriminals VS.  Justice

Cybercriminals VS. JusticeIn 2019 cybercriminals have ditched over $4 billion from cryptocurrency users and exchanges. Obviously, regarding crypto scams, the following year has been quite intense. The Dutch police have arrested former entrepreneur, Barry van Mourik, as he has been scamming investors in a fake Bitcoin mining operation.

It is crucial to understand that there are a lot of fraudulent schemes in the crypto world.  The parties involved need to be familiar with them. To avoid any crypto attack double-checking the credibility is key. Scammers use different ways of crypto fraud, for instance, blackmail, phishing websites, scam coins, money transfer fraud, etc. One of the scammers was Komodore64. In this case, con artists were impersonating a delegation from Goldman Sachs, the investment firm.

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