Polish police have recovered $11.6 million from the controversial DasCoin, an alleged Ponzi scheme that has defrauded investors. The news is being reported locally with confirmation coming from the spokesperson of the National Public Prosecutor’s Office, Ewa Bialik.
The belief that DasCoin was a scam has been circulating for a while with investigations going as far back as 2017 when alarms were raised with respect to the operation's practices.
Money Retrieved in Crypto Scam
Polish authorities have seized $11.6 million from DasCoin in relation to an investigation that has taken place over the past 12-months. Polish regulatory authorities raised concerns at the time in regards to both DasCoin and Net Leaders back in 2017. The investigations are linked to a multi-level marketing (MLM) campaign that was being promoted by the crypto review site Net Leaders - which allegedly helped to further the interests of the cryptocurrency.
District prosecutors in Poland’s capital, Warsaw, confirmed in September that a criminal investigation into DasCoin was ongoing. An announcement via the prosecutor’s office in regards to the case said that:
“The district prosecutor in Warsaw on September 21, 2018, has been investigating under the reference number PO III DS 176.2018 regarding bringing in from September 2016. Throughout the country, a number of people are disadvantaged by the sale of goods via sales through a website (netleaders). License for the purchase of a number of products and services offered under the DasEcosystem system, including the extraction of cryptocurrency called DasCoin.”
Violating Polish Criminal Codes
Although Polish authorities are still trying to fully uncover the extent of the DasCoin operation, they are currently looking into the violations of Polish Criminal Code and are looking to file charges accordingly against the accused parties.
At this moment in time, authorities have not yet decided what will happen with the confiscated cash from the alleged crypto scam, nor have they dedided the outcome for the founders and benefactors of DasCoin and Net Leaders.
The news however, is at the time of writing still thin on the ground in regards to the $11.6 million confiscation.