PROHIBITED CRYPTO-MINING SCHEME VIA STOPPED PAYOUTS TO INVESTORS EVEN THOUGH THE AUTHORITY HAS NOT FROZEN FUNDS

Following many inquiries by clients of INVIA GmbH the Austrian Financial Market Authority (FMA) would like to had to clarify that the prohibiting of INVIA’s business model in conjunction with the mining of cryptocurrencies does not mean that the FMA has frozen INVIA accounts. Obviously, such statements have been made by INVIA employees towards clients, who are requesting the money that they have paid in be returned. The FMA made clear now that those statements have no legal grounds whatsoever. The FMA has decided to communicate this information having received a large number of inquiries from INVIA investors.

It seems that INVIA denied payouts to customers claiming that their funds were frozen by FMA. Well, this looks as if this Austrian crypto-mining scheme has some cash issues after the FMA prohibited their business and qualified such crypto-mining schemes as Alternative Investment Funds (AIF) which need a license from the FMA.

Usually, an authority’s order to cease and desist operations is an important reason for investors to opt out of their contracts. Some investors have probably made use of this with INVIA and want their money back. However, since business will also be discontinued at the same time and crypto-mining sales will no longer be achieved, this will probably become very difficult for INVIA. This doesn’t look too good for investors.

At present, the INVIA website does not contain any statement on the FMA order on recruitment. The last entry under “News” is a report about a Leadership Meeting on February 3, 2018, in the DC Tower. The INVIA Facebook page has been deleted.