Share this article
EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims' Fund
The petition asks the EU to take a tiny fee on crypto transactions to be pooled into a fund for victims of fraud and hacks.
Updated Sep 14, 2021, 10:57 a.m. Published Jan 15, 2021, 8:44 a.m.
A petition has been sent to the European Parliament to persuade the bloc to provide financial support to victims of cryptocurrency crime.
STORY CONTINUES BELOW
The petition, filed Wednesday by lawyer Jonathan Levy, seeks the implementation of a "regulatory scheme to compensate victims" who were fleeced of digital assets by fraud, hacks and extortion. To date, 44 supporters have signed the petition.
Levy wants the European Union to implement a .0001 cent per euro fee on cryptocurrency transactions that would be pooled into a "victim superfund," according to a press release sent to CoinDesk.
The lawyer represents clients who have suffered losses exceeding €50 million (US$60.7 million) and is joined by class representatives for the 240,000 account holders caught up in the alleged exit scam by Irish cryptocurrency exchange Bitsane.
See also: Leaked EU Draft Proposes All-Encompassing Laws for Crypto Assets
At today's prices, the victim's funds lost to the Irish exchange would be worth as much as €1 billion (US$1.2 billion), according to Levy.
"Victims of the collapsed Irish cryptocurrency exchange Bitsane are still awaiting justice," he said, claiming that Irish authorities had "accomplished little or nothing" in tracking down Bitsane users' stolen funds.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
State of Crypto: Wrapping Up the Month
Congress continues to make progress on crypto issues but things are moving slowly.
Top Stories
