Alleged crypto scammers arrested in Rijeka

Police in Rijeka have arrested the owners of the failed cryptocurrency trading firm BitLucky, Luka Burazer and Eugen Travalja, as well as a woman who is also suspected of involvement in the crypto trading scam. 

They are accused of scamming more than 800 Croatians who invested from several to several hundred thousand euros. The investors lost more than 18.5 million euros between 2017 and 2023.

"The criminal investigation has established that there is reasonable doubt that the suspects, in the aim of reaping illegal material benefit for themselves and close relatives misled and continued to mislead a large number of clients or investors in their company by falsely presenting and concealing facts," said Blaženka Čačić, the head of General Crimes at the Primorje-Gorski Kotar County Police Department.

The suspects allegedly persuaded people to invest in their company by buying various cryptocurrencies under the pretext that their value was increasing and the profit were high. They advised citizens to open their own crypto-wallets or to pay a certain amount to particular crypto-wallets, and drew up contracts. Over time they transferred the money to their own crypto-wallets, spent it, while occasionally returning part of the money to keep the clients hooked. The company stopped operating when clients grew alarmed because they could not access their money and filed criminal complaints. Police have found several so-called cold wallets presumably belonging to the suspects.

The County Court in Rijeka has ordered the three suspects remanded to custody for one month as the investigation continues.

Meanwhile, the defrauded customers are hoping to get at least some of their money back.

"A majority of the clients have filed criminal complaints. However, we will act through the bankruptcy and other processes in an effort to recoup a part of their losses. Those who have not yet filed still can do so. The legal process has just begun,” said Andrej Bašović, an attorney representing some of the scammers’ victims.