Six months after the Rijeka company BitLucky, which was engaged in ‘cryptocurrency trading’, faced collapse from Kostrena, owners Luka Burazer and Eugen Travalja were reportedly arrested in Rijeka yesterday under the order of the Rijeka Municipal State Attorney’s Office, reports Jutarnji List. The arrest is the result of allegations from investors who claim they were defrauded of tens of millions of euros.
Despite earlier rumors of Burazer and Travalja fleeing Croatia after the collapse in May, they were reportedly arrested in their homes in Rijeka. The company BitLucky, which had ‘successfully operated’ under the ownership of these two for years, experienced a collapse, whether due to poor trading decisions or intentional fraud, leaving hundreds of uneducated investors without their investments, which allegedly amounted to tens of millions of euros.
In May, Burazer sent an email to all company clients informing them of poor business decisions that led to the crisis situation. After that, he disappeared, turning off his phone, ignoring emails, and deleting his social media profiles. Rumors emerged that it was actually a Ponzi scheme, and that Burazer may not have invested in cryptocurrencies at all, but rather used the money from new clients to pay profits to previous clients.
A large number of investors, after the news was reported by numerous portals, filed criminal complaints, and their lawyers sent dozens of requests and urgent appeals, reported Indeks. The Police Administration of Primorje-Gorski Kotar stated at the time that they possessed certain information and confirmed that citizens had requested assistance, emphasizing that a criminal investigation was underway. A criminal complaint was also submitted to the State Attorney’s Office (DORH). DORH informed the public that they are currently unable to provide information about the case while investigations and other legal actions are ongoing.
The company’s account is empty and currently blocked, but many investors still hope that not all the money is lost. Burazer promised clients that he would adhere to a method in which he invests 20 percent of the amount that can be lost, while the rest is kept in cold wallets and secured against loss. Only the owner or someone with access to the private keys can access the cold wallet.
Unfortunately for investors, there is a lot of unverified information and rumors that cannot be claimed to be true. However, the news of the arrest is the first step in shedding light on the entire situation, which the media will certainly continue to follow, and Burazer and Travalja may reveal the true truth about what really happened in the BitLucky affair.
