Vanuatu offers citizenship for 44 BTC

A Pacific island nation, the Republic of Vanuatu, is now accepting Bitcoins for citizenship and passports
10 October 2017   917

A Pacific island nation, the Republic of Vanuatu, officially offers the opportunity to become a citizen of the country (during its citizenship-by-investment program) in less than 44 Bitcoins ($200,000).

Vanuatu Information Centre
an image from Vanuatu Information Centre

According to the press release,the Vanuatu Information Center is authorized by the government to process applications.

Thus, through the citizenship-by-investment program, approved applicants paying the $280,000 fee receive citizenship as well as Vanuatu passports for themselves and up to three members of their immediate family.

Geoffrey Bond, Member of Parliament Hon. Andrew Solomon Napuat, confirmed that the Vanuatu government supports the move to receive payments in Bitcoin. The man detailed that “all Bitcoin transactions will be run through the partner’s Australian Exchange and meet with the normal compliance requirements imposed by the Australian Financial Regulator.”

Yet, Vanuatu is not the only country to offer a citizenship-by-investment service. Its competitors in this field include Turkey, Malta, Cyprus, Dominica, St. Lucia, Antigua and Barbuda, St. Kitts and Nevis, and Grenada.

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.