A petition has been sent to the European Parliament to persuade the bloc to provide financial support to victims of cryptocurrency crime.
The petition, filed Wednesday by lawyer Jonathan Levy, seeks the implementation of a "regulatory scheme to compensate victims" who were fleeced of digital assets by fraud, hacks and extortion. To date, 44 supporters have signed the petition.
Levy wants the European Union to implement a .0001 cent per euro fee on cryptocurrency transactions that would be pooled into a "victim superfund," according to a press release sent to CoinDesk.
The lawyer represents clients who have suffered losses exceeding €50 million (US$60.7 million) and is joined by class representatives for the 240,000 account holders caught up in the alleged exit scam by Irish cryptocurrency exchange Bitsane.
At today's prices, the victim's funds lost to the Irish exchange would be worth as much as €1 billion (US$1.2 billion), according to Levy.
"Victims of the collapsed Irish cryptocurrency exchange Bitsane are still awaiting justice," he said, claiming that Irish authorities had "accomplished little or nothing" in tracking down Bitsane users' stolen funds.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.