Around 700 customers of Croatian cryptocurrency exchange Bitlucky received a distressing email over the weekend that disclosed the loss of $75 million in client assets . The email signed by Luka Burazer, the managing director of Bitlucky, acknowledged a series of bad trades and decisions that had led to the company’s crisis situation . Further information was promised to be provided in the coming days with customer support available by phone .
Email Sent to Customers Reveals Series of Errors and Crisis Situation
The email sent to Bitlucky’s customers outlined a string of errors and poor decisions that had contributed to the dire situation faced by the exchange . Luka Burazer, the managing director took responsibility for the crisis and expressed regret for the impact it had on the company and its clients . Additional details regarding the nature of the errors and the path forward were expected to be communicated in due course .
Bitlucky Known for High Promised Returns in Contrast to Financial Market Norms
Bitlucky had gained attention among investors for its lofty promises of monthly returns ranging from 5% to 25% . These figures significantly surpassed the yields offered by traditional financial institutions . However the recent crisis has raised questions about the sustainability and legitimacy of such high returns emphasizing the importance of due diligence and cautious investment decisions in the cryptocurrency market .
Bitlucky’s Marginalized Presence in Croatian Cryptocurrency Ecosystem
Reports suggest that Bitlucky was somewhat marginalized within the Croatian cryptocurrency ecosystem . The Blockchain Association of Croatia confirmed that Bitlucky was not a member and highlighted the absence of its director from industry-related meetings and discussions in the country . This limited involvement indicates a lack of integration and recognition within the broader crypto community and potentially impacted the level of oversight and accountability .
The news of Bitlucky’s crisis has echoed within the Balkan Peninsula crypto community after an anonymous investor shared their perspective in a Discord group . The investor expressed that the situation had persisted longer than expected and he reflected the shock and disappointment experienced by the people closely following the developments surrounding Bitlucky and its substantial loss of client assets .
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