Bitclub Newsletter No. 120

Dear Clients,

We would like to inform you that the legal proceedings regarding the BitClub Network case are still ongoing. The sentencing for one of the key defendants is expected to take place in November 2024. The complexity of the case, involving multiple defendants and extensive investigative work, has caused this delay.

BitClub Network, which operated from 2014 to 2019, was one of the largest cryptocurrency scam schemes. They promised high profits from Bitcoin mining, but in reality, the fraudsters used funds from new investors to pay off ones who invested before them. Over $722 million was defrauded, and the defendants face serious criminal charges. It is crucial that all victims continue to report their losses.

One of the questions frequently asked by victims is: “What are the next steps in the process of recovering funds, and when is the payout expected to begin?”

Based on previous experience, the recovery of funds usually depends on the value of seized assets and the efficiency of law enforcement in executing the restitution process. While the legal proceedings are ongoing, it is important to stay in touch with our office and report any additional information about your losses. Our office will keep you promptly informed of any updates regarding your rights and the case.

Kind Regards,

Zoran Miljakovic

Attorney at Law