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Breaking news: Ethereum Developer Virgil Griffith Pleads Guilty to Conspiracy Charge in North Korea Sanctions Case

Serbian Man Indicted for Embezzling $7M Through Fraudulent Crypto Schemes

According to the indictment, Kristijan Krstic founded two digital-asset investment platforms that fraudulently induced investors to buy securities in the form of investment contracts.

Feb 24, 2021 at 10:29 p.m. UTC
Updated Sep 14, 2021 at 12:16 p.m. UTC

A Serbian man has been charged in an indictment filed Tuesday with embezzling $7 million from U.S. investors through two fraudulent cryptocurrency platforms.

  • According to the indictment from the U.S. Justice Department, Kristijan Krstic, 45, was the founder of "Start Options" and "B2G," two digital-asset investment platforms, which fraudulently induced U.S. investors to purchase securities in the form of investment contracts.
  • Start Options purported to provide cryptocurrency mining and trading services, while B2G claimed to be an "ecosystem" for the exchange of B2G tokens, cryptocurrency and fiat money.
  • The money invested by users was laundered through a Philippines-based account and digital currency wallet.
  • Then $7 million was transferred to Krstic via a promoter in the U.S. at which point he stopped responding to communications, tweeting that "the time has come to find new challenges and opportunities."
  • Krstic had previously communicated with investors using the alias "Felix Logan" and the Twitter handle "@felixlogan_cfo".

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