Cryptocurrency investment platform Bitlucky from Croatia announced the closure of business, explaining this by a number of unsuccessful transactions. Losses of investors are estimated at $75 million.

After receiving numerous complaints, the police launched an investigation into Bitlucky. The firm has been operating for about five years, positioning itself as an intermediary between investors and the world of crypto assets, providing advisory and educational services for them. Bitlucky offered investors a “safe and secure exit” to the crypto market, promising users a monthly return of 5% to 25%.

This week, Bitlucky CEO Luka Burazer sent out an email to about 700 customers announcing the platform fiasco. The CEO admitted that due to bad deals and decisions, he brought the company to a crisis state. The CEO promised to provide more information in the coming days.

The Croatian Blockchain and Cryptocurrency Association stated that Bitlucky was not a member, and Mr. Burazer did not participate in the activities of the Association.

This spring, Paxful, a P2P bitcoin trading platform, announced its closure. The reason is pressure from regulators and internal conflict between its co-founders. However, a month later, Paxful management resumed the work of the platform.