Germany Welcomes New RWA Platform, French Police Catch Hologram Hackers & More

BeInCrypto’s comprehensive Europe Crypto Roundup covers the latest news and trends shaping the continent’s crypto landscape. With reporters in key markets like Germany, France, and the UK, we provide deep insights into evolving regulations, adoption rates, key industry events, and market movements.

This week’s roundup includes the launch of a new tokenized real estate platform in Germany, Bitpanda’s partnership with Finland’s largest crypto broker, the arrest of Holograph hackers, and more.

New platform for tokenized real estate launched in Germany

A new platform for tokenized real estate has launched in Germany, bringing the analog and digital investment worlds closer together. The initiative is led by MyHouse AG, a provider of real estate investments for private and institutional investors, together with Berlin-based Web3 company Tokenforge.

According to the announcement, the initial rollout of the platform will include assets from Degag Deutsche Grundbesitz AG. The follow-up phase will introduce digital securities from MyHouse AG. The companies describe this as a “significant step in democratizing and digitalizing investments in the real estate sector.”

“The processing of digital securities not only significantly increases management efficiency, but also makes it easier for our investors to access these opportunities through tokenization. This approach enables investors to invest “small amounts of money in high-quality real estate and tangible asset projects, thereby opening up the market to a much broader group,” said Alexander Hupe, CEO of MyHouse AG.

Read more: How to Invest in Real Crypto Assets (RWA)?

The platform, regulated under the German Electronic Securities Act (eWpG), will initially focus on real estate in Germany. It plans to expand to other assets and international markets later.

Montenegro Arrests FutureNet Director

Montenegrin police have arrested Roman Ziemian, co-founder of alleged crypto fraud scheme FutureNet, who was living under a false identity in the capital Podgorica. The arrest, announced on August 19 by the Montenegrin Police Directorate, follows an international investigation involving South Korea and Poland. Both countries have issued arrest warrants for Ziemian on charges of fraud, money laundering and theft.

Ziemian could face life in prison in South Korea for his role in the $21 million scheme, authorities said. After his arrest, police seized equipment and items believed to be used in his criminal activities. Ziemian is now awaiting a hearing at the Podgorica High Court to determine his extradition.

Founded by Ziemian and Stephan Morgenstern in 2018, FutureNet was promoted as a multilevel marketing company with FuturoCoin (FTO). In 2019, the Polish Competition and Consumer Protection Office (UOKIK) flagged FutureNet as a pyramid scheme, warning that it was selling “participation packages” ranging from $10 to $10,000, with promised revenue for recruiting new participants.

Read more: 15 Most Common Crypto Scams to Watch Out For

South Korean authorities began investigating the scheme in 2020 after 950 victims reported millions of dollars in losses. Ziemian’s arrest mirrors that of co-founder Stephan Morgenstern, who was detained by authorities in Albania in August 2023. Both men face possible life sentences in South Korea.

Finnish crypto broker offers over 400 digital assets through new partnership

Coinmotion, Finland’s largest cryptocurrency provider, has partnered with Bitpanda Technology Solutions (BTS) to offer over 400 virtual currencies to its users. Based in Jyväskylä, Coinmotion will soon provide the most comprehensive crypto service package in the Nordic region.

BTS, part of Austrian fintech Bitpanda, is enabling businesses to integrate their cryptocurrency trading solutions. With this partnership, Coinmotion users will gain access to all supported currencies via the Coinmotion app. Initially, 10 popular assets — including Solana, Tron, and Polkadot — will be available, with more being added gradually throughout the year.

“This partnership will allow Coinmotion to easily expand its offering and provide the widest range of virtual currencies in the Nordic countries,” said Lukas Enzersdorfer-Konrad, CEO of BTS.

Read More: 12 Best Altcoin Exchanges for Crypto Trading in August 2024

A recent survey found that 300,000 Finns, or 7% of the adult population, own virtual currencies — a figure expected to triple within a decade. Coinmotion’s extensive offerings aim to attract both new and existing investors in a safe environment.

“Our customer base is growing as more Finns start investing in virtual currencies. We believe that virtual currencies will soon be as common as other asset classes,” said Antti-Jussi Suominen, CEO of Coinmotion.

The partnership will provide trading opportunities to over 25 million customers across Europe, responding to the growing demand for secure digital asset solutions.

Holographic hackers arrested by French police in Italy

After a two-month investigation, French police have arrested two suspects involved in the hacking of the Holograph crypto platform. Hackers compromised Holograph in June and fraudulently created one billion HLG tokens.

They managed to implement an unverified smart contract on the Mantle network, allowing the excess tokens to be created and sold immediately, causing the market cap to plummet. Holograph managed to freeze 200 million tokens on various exchanges, including Bybit, Gate, KuCoin, Bitget, and Backpack.

The investigation was relatively straightforward, as some of the stolen funds were traced to a Paris-based individual known as “Acc01ade,” who exchanged the stolen HLG tokens for USDT and ETH. The suspect had previously identified himself online as a “super shady programmer” and had even listed his position as a developer for Holograph on LinkedIn as of May 2021.

Read more: Crypto Scam Projects: How to Spot Fake Tokens

The investigation was conducted by the Office of Cybercrime Prevention (OFAC) in collaboration with the Brigade for the Suppression of Banditry (BRI), Europol, the Italian Anti-Mafia Investigation Directorate and the Royal Cayman Islands Police Service (RCIPS). These agencies tracked down and arrested the suspects in Italy. The individuals are now awaiting extradition to France, where they will face charges in connection with the crypto hacking case.

The total estimated value of the theft is $14.2 million. To restore balance, Holograph has since destroyed an equal number of tokens to return the supply to its original level.