OneCoin victims propose to the European Union to set up an insurance fund against cryptographic fraudsters.

OneCoin victims have joined an association that wants to force the European Parliament to consider a petition for a compensation fund. The EU-managed fund will function as an insurance company for current and future victims of crypto fraud. It is proposed to charge a mandatory low commission of 0.0001% for each euro used in cryptographic transactions within the EU.

Explaining the need to address the European Parliament, victims‘ lawyer Jonathan Levy said that this body „will at least not shy away from providing remedies to people, as it happened with the General Regulations on the Protection of Personal Data. The victims are also encouraged to learn that the EU wants to develop a single crypto regulation, which will be introduced in stages by 2022. Previous attempts to force the European Commission to consider the petition Bitcoin Formular have produced no results.

Levi believes that the problem will not be resolved quickly due to the lack of cryptographic regulation in many EU countries. In addition, poor compliance with existing consumer protection rules only helps fraudsters. Levy singled out the UK as one of the countries that is unable to cope with cryptographic fraud.

According to him, many companies associated with the crypt currency are registered in the .io zone, which is controlled by the Foreign and Commonwealth Office of the United Kingdom. Indeed, in most cases, crypt fraudsters have used .io sites in an attempt to deceive their victims. Levi claims that the British government is aware of this outrage, but has done little to address it.

Social media platforms such as Telegram, Facebook and Linkedin are the main channels used by the crypto cheaters. By using fake profiles, criminals take victims down with falsified screenshots that show incredible returns on investment. Such screenshots are often enough to convince victims to invest or replenish their accounts.

The lawyer encourages other victims of crimes and cryptographic manipulation to support the petition by registering with the EU.

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