Several Slovak influencers helped promote the platforms now under investigation.
Several cryptocurrency platforms that promised clients investment opportunities in digital assets are under investigation by police in Slovakia and the Czech Republic. Investigators say 1,125 investors may have lost more than €8.4 million through platforms including Seif Finance, Seif Group, Seif DAO and Crypto Cartel.
The projects presented themselves as a safe way to trade cryptocurrencies and built their image around financial success.
According to investigators, clients were instructed to send money to bank accounts linked to people involved in running the platforms. Investigators are examining allegations that the funds were not used to purchase cryptocurrencies for clients as promised, but were instead transferred and used for other purposes.
The platforms operated call centres in Prague and Bratislava, according to investigators. Employees contacted potential investors, focusing on those less familiar with cryptocurrency markets. Police allege that callers used psychological pressure during conversations.
