A petition to create a fund to help victims of cryptocurrency scams gets 44 votes in 9 months

In April 2020, lawyer Jonathan Levy filed a petition with the European Parliament to create a compensation fund for victims of cryptocurrency scams. She only got 44 votes.

petition was filed nine months ago with the European Union’s legislative and representative body, the European Parliament, proposing a “normative compensation scheme for victims” who have had their digital assets stolen through fraud, hacking and extortion. The author of the petition is attorney Jonathan Levy.

Levy wants the EU to impose a € 0.0001 fee on cryptocurrency transactions that will go to a compensation “superfund” for victims of cryptocurrency scammers. The lawyer represents clients who have suffered losses in excess of € 50 million.

However, the victims of cryptocurrency scams don’t seem to believe in this idea. To date, only 44 people have signed the petition.

In the new year, amid the cryptocurrency boom, Levy recalled his previous initiative. More than 240,000 people are joining him, according to Levy, who were affected by the sudden closure of the Irish exchange Bitsane in 2019. At the current rates of cryptocurrencies, the value of users’ cryptoassets stolen by the owners of the exchange would exceed € 1 billion.

“The victims of the closed Irish cryptocurrency exchange Bitsane are still awaiting justice,” he said, stating that the Irish authorities “have done little or nothing” to track down the stolen money of Bitsane users.

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