Legal Director Syed Rahman tells Irish Tech News about the importance of investigating cryptoassets before investing in them.
Rahman Ravelli’s Syedur Rahman wrote an article in Irish Tech News about the importance of carrying out your own investigations into cryptocurrency before investing in it.
His article was prompted by the case of 27-year-old Douglas Jae Woo Kim, who is accused defrauding three investors out of bitcoin and ether worth more than $4.5M.
In his piece, Syed emphasised that those considering putting money into cryptoassets have to be at least as cautious as they would be if they were making any other type of investment. Any investment opportunity requires due diligence to be carried out on what is being offered and the people making the offer; including whether they are authorised to make the offer. Syed also stated that the case showed the DOJ’s willingness to prosecute such fraud.
Syed's article featured on Irish Tech News.
