Five Red Flags that Preceded Neo & Bee's Collapse
Some of the "flags" mentioned in this not so biased article:
Quote
1.It was based in Nicosia, Cyprus. The location alone should have raised some huge red flags.
Cyprus is an island. Recall that Mt. Gox was based on an island.
Cyprus has weird laws.
Its legitimate economy,is based on drunk British tourists, but is dwarfed by its underground economy that is based on money being laundered by Russians.
Cyprus is an island. Recall that Mt. Gox was based on an island.
Cyprus has weird laws.
Its legitimate economy,is based on drunk British tourists, but is dwarfed by its underground economy that is based on money being laundered by Russians.
expert analysis right there
Neo is a scam because it is based in Cyprus.
Cyprus is an island, very much like the UK or AUS, has weird laws, like copied UK law, and its economy has an undergound illegal face, like any economy on the planet.