Reading time: ~2 m
The authorities of New Zealand have begun proceedings in the case of the investment crypto platform Quwiex Limited (QL). Previously, participants registered on the site did not receive dividends promised by the project program. Later, the official QL website stopped working without warning, and communication with the organizers was lost.
After the incident, experts found that the specified legal address of the company was fake, and the creators disappeared along with the depositors’ funds. The News Outlet New Zealand Herald attracted the attention of the public and the authorities by publishing an article about fraudsters, followed by official authorities opening a criminal case.
The report of journalists stated that the company Quwiex Limited began its activities in September 2021. In the program of the project, guarantees of obtaining a high income based on investments in digital currencies were declared. In fact, QL turned out to be a classic short-term financial pyramid known as the “Ponzi scheme”. Such schemes are used by fraudsters, both in the field of fiat money and in the use of virtual assets.
The Auckland police in their comments on the progress of the investigation shared that the amount of money received by the creators of the scam amounted to $ 44 million.
According to Financial Crimes Unit Officer Sgt. James Robson:
“The links between the creators of the financial scheme and the presence in New Zealand were not detected. The perpetrators allegedly conducted activities while in other countries. Fraudsters are often based abroad, and therefore the probability of recovering the financial losses of deceived depositors is critically small. “
New Zealand is a popular platform for attracting investment and the activities of brokers in the foreign exchange sector. The authorities admit that against this background, the risk of involvement in financial fraud remains at a very high level.
Earlier, the editors of the Crypto.ru reported that the American newspaper Wall Street Journal (WSJ) accused the largest exchanges of illegal trading using insider information.
#Zealand #authorities #opened #case #crypto #pyramid