Dutch Police Arrest Founder of Blockchain Startup that Raised up to $80 Million

Richard M Adrian by Richard M Adrian - 11:29 AM Nov 12, 2019

Police in the Netherlands have arrested the founder of a Blockchain gaming startup that allegedly raised over 78 million euros from investors ($86 million). Komodore64 which kicked off in June with the mission of creating a gaming platform where transactions are tracked within a blockchain; seemed to be a fraudulent scheme for tricking both investors and employees. Meanwhile, the gaming platform and its native crypto, Coin K64 secured roughly $86 million from its first round of funding from investors; recently declared bankruptcy. 

Goldman Sachs Impostors

The founder of the startup, founder Sam N lured investors into the project by claiming that Komodore64; had initially raised funds from a well-known investment company’ - Goldman Sachs. While in reality, a group of individuals impersonated a delegation from the investment company.

Employees in the company stated that the launch party cost a whopping 10,000 euros. On the downside though, the suppliers and the employees did not receive their bill. Later on, the company’s employees would file for bankruptcy. 

More deception and angry crypto investors

Meanwhile, John Dullaart, Komodor64 curator claimed that Max Theyse previously presented as the company’s co-founder never took upon the role. Additionally, he noted that Sam might have presented him that way and that the actual co-founder was someone else. Surprisedly, someone other than himself.  Dutch police seized Sam from a hotel room, where he had reportedly been staying after feeling threatened by angry crypto investors. 

Recently, the Dutch Police, Europol, UK South West Regional Cyber Crime Unit, UK National Crime Agency and Eurojust; coordinated the manhunt of six suspects allegedly reported to have stolen over $27 million worth of crypto. Back in May, Dutch police also arrested a former entrepreneur, Barry Van Mourik, who was accused of fraud. Barry allegedly conned investors in a fake Bitcoin mining operation worth more than $25 million. Barry accrued client funds by not purchasing mining equipment and reportedly spending the funds on luxury.

About The Author
Richard M Adrian

Richard M AdrianBlockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.


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