France: RR Crypto Association “loses” its clients’ money – 4,500 victims and millions of euros missing?

It is a crushing blow that may have turned the weekend for thousands of RR Crypto Association members into a nightmare. Via an email, Vincent Ropiot, founder of the Dijon Association and CEO of Chassis, has already announced to his community that the funds deposited on the Binance platform have disappeared since last March. The damages will reach 58 million euros. A complaint could also have been lodged by the structure manager.

RR Crypto, an association in turmoil

Relatively conservative in the French ecosystem, existing in an associative form and more particularly active since the beginning of 2020, RR Crypto presents its reason for being on the few pages of its official website.

The latter, with its lack of content, allows you to learn about an organizational structure that advocates pedagogy, mutual aid and education in the complex world of crypto-assets.

“RR Crypto is an association that provides education and personalized support for your crypto-asset related projects with individuals in order to participate in a reliable and sustainable economic alternative to current challenges. Born out of the vision of Vincent ROPIOT, passionate and committed to the world of crypto assets since 2013. RR Crypto has developed its own way of supporting with the evolution of sector in order to democratize our service to the largest possible number of people.”

RR Crypto Official Website

In fact, what RR Crypto means with an extension “Special Accompaniment Method” It appears to be nothing less than a commercial crypto money management service.

In other words, RR Crypto specifically consisted of a trading team whose primary work was supposed to be to grow the money of the members of the association, in return for a commission of around 17% on capital gains.

If there is no mention anywhere of what ultimately constitutes the bulk of RR Crypto’s business, It seems that the association’s services have been very successful, Just outside the suburbs of Dijon, where the company recently bought a two-story building to base its activities, with a gym and table tennis table, like any good self-respecting startup. A success story that resonated with enthusiastic reviews by the local press.

“In a really inspiring startup atmosphere. Just one example, but we can multiply them: Sustainability qualification tied to HR… Providing crypto-asset investment services to individuals and businesses, RR Crypto, recommended by big names (…) Currently working with AMF ( Capital Markets Authority) to develop towards the company’s position »

Dijon Hebdo’s article on RR Crypto

Thus, “investment services in crypto-assets”, distributed by an entity (of an associative nature) that does not have PSAN status as it is, unlike the 18 French players who won Sesame.

From sources interviewed by Journal du Quinn, RR Crypto will currently represent 4,500 customers (Terminology seems necessary), an increase of 3,000 people, since the beginning of 2020.

Customer Recruitment Mainly by word of mouthby members of the association, Said – For a fair commission To benefit their families and loved ones Declared returns 10% per month.

Some members praised RR Crypto services especially in July 2020 in the (Excellent) forum encryption It was presented as an opportunity not to be missed, despite the skepticism shown by the forum community.

“I invested in a company called RR CRYPTO, I return about 10% per month, I am very happy with them, they buy many cryptocurrencies at low prices and then resell them, I don’t care about anything, they take 17% commission on my earnings.”

“A friend is a salesperson of this company, from whom he brought all these friends and family members […] I have confidence because he is also a childhood friend to a common colleague.”

Various messages from members in the CryptoFR forum

The problem is, if everything indicates that association members have never had to complain about the seriousness of the team at hand, or about the monthly returns, then an email this weekend from the CEO of RR Crypto informs his community that The money simply… disappears.

“Reset” 58 million euros?

In an email dated June 20, titled “Important: RR cipher status”, Vincent Robiot tells the association’s members:

“During March 2021, the (sic) crypto-asset wallet that was opened on the Binance platform was reset where all funds entrusted to management by our clients are held.”

Without going into what is meant by the term “reset,” the CEO continues by noting that he regrets declaring “the money is no longer in the wallet, without access to the record.”

Vincent Rubio notes that he filed a complaint with the local gendarmerie on June 17, and insists that he alone is responsible for the situation (team members had been threatened in the previous days).

From the items collected by the JDC, it appears that in terms of potential damage, The territorially competent criminal brigade was captured. In fact, from the JDC source, a total of 58 million euros in crypto assets could have disappeared from the association’s accounts.

It should be noted that two weeks before the events, RR Crypto informed its clients via email that as part of the compliance investigation of the Binance exchange (presumably provoked by the steps of RR Crypto against AMF), interested parties were informed that if deposits of funds remain open, it will become temporarily impossible to conduct Withdrawals. Advertisement does not reassure members retroactively.

At the moment, the RR Crypto community is in awe and outrage, which is amazed that a well-established structure, a member of a reference entity like Adan (Association for the Development of Numerical Asset) could put them in such a position. When asked, the CEO of RR Crypto had not yet answered JDC’s questions at the time this article was published.

BinanceOn the other hand, we answered “We are aware of these recent alerts and this matter is being investigated.”

Adamthrough Director of Communications Sebastien Couture, did not He declined to comment on the RR . encryption issue Strictly speaking, explaining that a file The role of the association Limited to “Represents all players in the ecosystem investing in France”And the “New members are endorsed by the board of directors, after checking that there are no blatant elements of potential malice.”.

Alexander Stachenkothe co-founder, also spoke publicly on Twitter, considering that Adam You do not actually have Not the role of “label”.

According to our informationThe Organizerfrom here Directorate of Relations with savers (drib), send a The official mail of RR Crypto managers At the beginning of the year, they demanded that Compliance Based on Submit this consent file. However, still according to our information, AMF won’t be in the end PSAN approval application file not received by RR . encryption.

We will not fail to update you on the rest of the events in Journal du Coin.

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