After years of total silence, failed bitcoin startup Neo & Bee is finding its way back into the spotlight for doing the one thing no one expected: Repaying investors. Last month, the long-shuttered “bitcoin bank” sent out emails inviting shareholders to access a new “redemption portal” for “NEOBEE” tokens. (Full disclosure: This reporter owns a…
The story of would-be “bitcoin bank” is sure to become the stuff of cryptocurrency legend. From the high-profile launch of the company in Nicosia, Cyprus, to the dramatic collapse of the company only a month later, at every turn the Neo tale has been filled with drama, mystery and intrigue. Was founder and CEO Danny…
In a report published today by the Cyprus Mail, Cyprus police have issued an arrest warrant for Neo & Bee CEO Danny Brewster. The report claims that Brewster is named as a “a person of interest in an ongoing investigation” in the fraud investigation, but it’s not clear if he is the primary suspect in…
On March 28, bitcoin-based stock exchange Havelock Investments froze trading on Neo & Bee (NEOBEE) shares, citing a “high possibility of questionable trading activity.” Shortly thereafter, it became clear that rumors of Neo & Bee’s financial troubles were founded, and were later confirmed by CEO Danny Brewster. With the company shuttered in Cyprus and facing…
In a report published in today’s Cyprus Mail, police in Nicosia have launched a fraud investigation targeted at Neo & Bee following the sudden and dramatic collapse of the “bitcoin bank.” Two persons have filed complaints to the police alleging they paid the company cash, but have not received bitcoins in exchange. The complaints were…
In February, the world’s first “bitcoin bank” Neo opened to much fanfare in Cyprus. Barely a month later, the stock price is in the gutter, stock trading on Havelock has been halted due to “unusual activity,” the company’s offices in Cyprus are shuttered, and CEO Danny Brewster is no longer in the country. There has…
In a recent conference at the University of Nicosia in Cyprus, university CFO Dr. Christos Vlachos gave a presentation about Bitcoin to the Cypriot government and Cyprus Stock Exchange. The highlight of the presentation was a formal proposal to the government for “Converting Cyprus into a worldwide hub for Bitcoin trading and processing.” According to…