Bulgarian law enforcement raids offices of cryptocurrency firm Nexo • Hacker News Board

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#21

Post by lotsofpulp » Thu, Jan 12, 2023, 2:23 PM UTC

dollylambda wrote: post #12

sofixa wrote: post #7

Earlier quoted context omitted.

In this case it's reportedly only Bulgarians: > Mileva said that the people under investigation were Bulgarian nationals and the company, which she repeatedly described as a “cryptobank”, was operating primarily from Bulgaria. However there are lots of very pro-Russia Bulgarians (hard to explain after everything that has happened, but still..), so your point generally stands.

> However there are lots of very pro-Russia Bulgarians (hard to explain after everything that has happened, but still..), Here is an excerpt from wiki which explains why some in Bulgaria are still "pro-russia": "The Western European Enlightenment in the 18th century influenced the initiation of a national awakening of Bulgaria.[63] It restored national consciousness and provided an ideological basis for the liberatio…

I do not see why a Bulgarian today would assume Russia’s actions in 1877 have any relation to what Russia might do or be capable of in 2023.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#22

Post by raesene9 » Thu, Jan 12, 2023, 2:29 PM UTC

It feels like the skeptics, who were pointing out last year that the rates on crypto yield products, were too good to be true, had a point.

That's Celsius, Voyager, Blockfi, Genesis and now nexo all in some level of financial/legal trouble.

The question is how much is still to be uncovered.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#23

Post by cguess » Thu, Jan 12, 2023, 2:30 PM UTC

r12343a_19 wrote: post #14

louwrentius wrote: post #5

> She said that investigators had proof that a Nexo client, who used the company’s platform to transfer cryptocurrencies, was a person officially designated as financing terrorism, but gave no further details. All crypto is some form of crime, money laundering, evading sanctions, funding terrorism, or just a ponzi scheme, it's just different sides of the same thing. I wish this space would totally collapse. Maybe if…

By this logic most large scale human suffering before crypto was created by fiat. Most of current human suffering is still fiat. Crypto is barely a blip in the grand scheme and I don't see how it differs from, say, gambling.

> Crypto is barely a blip in the grand scheme and I don't see how it differs from, say, gambling.

Gambling is also, almost always, a negative for society. It's why it's so heavily regulated.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#24

Post by [deleted] » Thu, Jan 12, 2023, 2:34 PM UTC

lotsofpulp wrote: post #21

dollylambda wrote: post #12

Earlier quoted context omitted.

> However there are lots of very pro-Russia Bulgarians (hard to explain after everything that has happened, but still..), Here is an excerpt from wiki which explains why some in Bulgaria are still "pro-russia": "The Western European Enlightenment in the 18th century influenced the initiation of a national awakening of Bulgaria.[63] It restored national consciousness and provided an ideological basis for the liberatio…

I do not see why a Bulgarian today would assume Russia’s actions in 1877 have any relation to what Russia might do or be capable of in 2023.

[deleted]

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#25

Post by sandworm101 » Thu, Jan 12, 2023, 2:34 PM UTC

dmos62 wrote: post #19

Kaizeras wrote: post #10

An ex-colleague of mine worked for OneCoin (another crypto scam originating from Bulgaria) when their offices got raided a few years ago. Now he’s an engineering manager at Nexo. I can see a pattern emerging in his career.

Disruptive product-oriented technologist, with a mind for optimizing customer-business needs.

Shady. Willing to be paid in strange currencies deposited in overseas banks. Likely to have tax troubles one day. Knows how to buy a plane ticket using cash. Strong opinions on Krugerrand valuation. Owns a motorcycle without an odometer. Bought a house with a series of 9,999$ travelers checks. More likely to install a Kim Dotcom-type panic room than run for public office.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#26

Post by LegitShady » Thu, Jan 12, 2023, 2:36 PM UTC

logicchains wrote: post #13

louwrentius wrote: post #5

> She said that investigators had proof that a Nexo client, who used the company’s platform to transfer cryptocurrencies, was a person officially designated as financing terrorism, but gave no further details. All crypto is some form of crime, money laundering, evading sanctions, funding terrorism, or just a ponzi scheme, it's just different sides of the same thing. I wish this space would totally collapse. Maybe if…

[flagged]

mostly minded its own business funding militias warring in other countries, developing nuclear weapons, etc etc

some interesting nonsense on HN some days.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#27

Post by gonzo41 » Thu, Jan 12, 2023, 2:39 PM UTC

Kaizeras wrote: post #10

An ex-colleague of mine worked for OneCoin (another crypto scam originating from Bulgaria) when their offices got raided a few years ago. Now he’s an engineering manager at Nexo. I can see a pattern emerging in his career.

I would be super worried about having a resume filled with ponzi schemes.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#28

Post by gostsamo » Thu, Jan 12, 2023, 2:40 PM UTC

dollylambda wrote: post #12

sofixa wrote: post #7

Earlier quoted context omitted.

In this case it's reportedly only Bulgarians: > Mileva said that the people under investigation were Bulgarian nationals and the company, which she repeatedly described as a “cryptobank”, was operating primarily from Bulgaria. However there are lots of very pro-Russia Bulgarians (hard to explain after everything that has happened, but still..), so your point generally stands.

> However there are lots of very pro-Russia Bulgarians (hard to explain after everything that has happened, but still..), Here is an excerpt from wiki which explains why some in Bulgaria are still "pro-russia": "The Western European Enlightenment in the 18th century influenced the initiation of a national awakening of Bulgaria.[63] It restored national consciousness and provided an ideological basis for the liberatio…

Your answer is only part of the truth. Though Russia had lots of welwishers in Bulgaria, the heavy indoctrination happened during the communist rule 1945-1989. Many people whose best years were during this period are still alive and many are disappointed by the failures of the post 1989 governments. The topic is complex and filled in with lots of propaganda, so I won't get into disputes, just giving additional context.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#29

Post by mrtksn » Thu, Jan 12, 2023, 2:40 PM UTC

gonzo41 wrote: post #27

Kaizeras wrote: post #10

An ex-colleague of mine worked for OneCoin (another crypto scam originating from Bulgaria) when their offices got raided a few years ago. Now he’s an engineering manager at Nexo. I can see a pattern emerging in his career.

I would be super worried about having a resume filled with ponzi schemes.

Unless you are applying for the next big thing.

Re: Bulgarian law enforcement raids offices of cryptocurrency firm Nexo

#30

Post by winReInstall » Thu, Jan 12, 2023, 2:42 PM UTC

gonzo41 wrote: post #27

Kaizeras wrote: post #10

An ex-colleague of mine worked for OneCoin (another crypto scam originating from Bulgaria) when their offices got raided a few years ago. Now he’s an engineering manager at Nexo. I can see a pattern emerging in his career.

I would be super worried about having a resume filled with ponzi schemes.

But what if your career is crime and you need just 2 additional ponzi schemes, to quadruple the crime output.