Hedge Fund Specialist: Crypto Funds lost 29.2% in March

Barclay Hedge released its latest index, the Cryptocurrency Traders Index, revealing that players in the field failed 29.2% in March 2018
20 April 2018   545

And year to the current date, it is being declined 43.1% after three subsequent monthly losses. The researchers suppose that the new tool is an equal-weighted index of the monthly proceeds of a representative universe of 19 component funds that trade bitcoin and other cryptocurrencies, beginning Jan 1st 2018.

Estimated perfomance calculated with reported data from crypto funds for January-March of 2018
Estimated perfomance calculated with reported data from crypto funds for January-March of 2018 

Barclay Hedge, established in 1985 and previously known as The Barclay Group,  works for institutional investors around the world in the sphere of hedge fund and managed futures performance measurement and portfolio management. It supports  148 hedge fund indices for financial institutions in North America and Europe in its role as an independent index calculation agent.

The ability to trade Bitcoin futures on exchanges such as CME and Cboe, which are respected worldwide, provides a much-needed level of transparency, investor safety, and credibility to the price–discovery process and creates a level of institutional legitimacy that is crucial for growth in this sector. Within days of the launch of Bitcoin futures, Bitcoin rose to its all-time high of just under $20,000 on December 18 last year. Today’s prices are just over $8,000. Folks have their opinions, but no one really knows if it’s a bubble or a corre. 
Sol Waksman, president, founder, Barclay Hedge

The massive 2017 price revival saw an outbreak in the number of crypto hedge funds, with a whopping 167 planned to have launched during the year. Nevertheless, many are trying to survive the present market with at least nine crypto hedge funds having stopped operations.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   277

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.