A missed investment in a cryptocurrency mine? “I didn’t think we’d get a stunt like this.”

– I invested PLN 200 thousand in the Laboratory of New Technologies (PNT). This was in September 2017. According to the agreement today I should recover PLN 218 thousand, and also get part of what the company earned. How much did I get back? It’ll be about 31 thousand zlotys. And the profit itself is 100 PLN – says money.pl Mr Adrian.

Our caller is one of 230 investors interested in PNT. This is an industrial digital currency excavating server, consisting of computing devices to be partially powered by RES.

Stephen Bentyn, an online influencer and cryptocurrency promoter, was responsible for this project. The company started two years ago. Initially, she planned to raise about PLN 10 million from investors. In the end, it received PLN 21.5 million.

– I knew cryptocurrency could make money. I knew Stephen from when he sold excavators on his own. You could write to him, there was always help. It made me trust him,” explains Adrian. The company’s calculation indicated that it would earn PLN 600 thousand. – And I was tempted to admit it

300,000 PLN – that’s all Dariusz Polak invested in PNT. He recovered PLN 30 thousand.

– They promised everything. That there would be profits, that in two years they would all pay off. The guarantees were to be bills. They said we had nothing to worry about, even if bitcoin was cheap. They said digging was cheaper. And now they’ve taken the commission and all the responsibility for the problem is on investors. Ordinary smartness, no scruples, says Dariusz Polak.

Read: No payouts, there are invoices to be paid. That’s how I ended up working at a billionaire’s son’s firm

As described in fxmag.pl portal, investors were to lend to PNT loans confirmed by a bill of exchange, with interest of 6% per year. The agreement provided that the money would be repaid within 30 months, in four six-month instalments.

The partners also had a profit share. For them it was supposed to be 75 percent. The rest of PNT planned to retain as a commission. In the meantime, from the PLN 21 million borrowed, the company has paid less than PLN 2.65 million to this day, according to investor relations.

– Stairs started as the fund-raiser ended. PNT declared that it would buy cryptocurrency digging equipment at the lowest possible price. In fact, the company bought excavators from a broker who was created solely to operate the resulting mine. However, the value of the equipment specified in the reports is excessive. In one case even more than 100 percent,” says Dariusz Dziduch from fxmag.pl portal.

– In addition, the company is built up by interdependent companies which provide services only to it. This is a closed circuit. Regardless of the situation in the cryptocurrency market, people who are in these companies can make money on current costs. This is not only a small advantage for partners, but also incompatible with previous PNT marketing declarations,” explains Dziduch.

We’ve contacted Stephen Bentin. Our interviewer admitted that the last year was particularly difficult for his company.

– From the beginning, we stressed that it is an investment of high risk and that profitability is heavily dependent, among other things, on the economic downturn in the cryptocurrency market. The year 2018 was a year of significant declines in the prices of computing capacity, above average increase in mining difficulties, and as if there was little increase in electricity prices due to seven times the increase in prices of CO2 rights in Europe, which Poland is most affected,” said Stephen Bentyn.

Copying cryptocurrency doesn’t pay off everywhere. The cost of creating bitcoin is higher than its market price. Today you have to pay about $3,800 for this digital money. According to JPMorgan’s analysis, the average cost needed to create one bitcoin is $4060. Reason? High current prices, which account for 90% of the cost of digging.

Learn: Over 900 dead cryptocurrency. 600 billion dollars

evaporated from the market

– We have taken a number of restructuring measures to protect the company from bankruptcy. In October, after consulting investors, it was decided to move part of the server room to Russia. In January of that year, devices were launched in Siberia and the process of verifying cooperation with a foreign contractor is currently underway. In addition, we are in the process of installing another batch of devices in Iran,” explained Bentyn.

Ensures that PNT is still repaying its liabilities to its partners. Moreover, it recorded a profit on operating activity in January. How much of this went to the partners? We didn’t find out

Investors to whom we have reached say that they have remained with bills that have no value. They’re planning to report the case to the DA

– When something bad happens in the company, you have to roll up your sleeves and fix it, not smile at investors, say we’re a few million in the back, but nothing really happened. And that’s how it looks here. Bentin is no cryptocurrency expert. In his company, they don’t answer our question, they don’t give us access to documents. I didn’t think we’d get a hit like this. It’s just stealing,” says AdrianWhat does the Financial Supervision Commission say? We have learned that no complaints about PNT have been received at this time.

– Where any of the offences listed in Article 6b of the Financial Market Surveillance Act concerning the conduct of business on the financial market are identified without appropriate authorisation, The KNF Office informs the prosecution and in accordance with the provisions of the Act on the supervision of the financial market the entity is included on the list of warnings – commented Jacek Barszczewski from KNF.

Do you have news, photo or video? Send us through radziesie.wp.pl