Dan Neves’ Investors of Crypto (IOC) Hedge Fund Helps Fight Fraud within Bitcoin Markets


Hedge Fund Manager is Cracking Down on Fraud within the Crypto Market

Dan Neves started a hedge fund that could be used by the crypto investors within the market. When he established the hedge fund, it was not in the goals of helping the government in cracking down fraud, but it is precisely what the team behind the company has been doing. To make things even more interesting, it all started with a cease and desist letter to the company straight from the director of enforcement based in Texas State Security Board.

It is the same agency that went ahead to take down the BitConnect back in January 2018.

It is All Too Good to Be True

The hedge fund, which is called the Investors of Crypto (IOC), is still very young in the market as it began this year. Neves ensured that the company was legally compliant despite the murky laws that would govern the crypto investments. But, when he finally received the letter from the director of Texas State Securities Board, Joe Rotunda, he learned otherwise.

According to the letter that was presented to him he had committed a violation that he was not aware of, thus, this was placing the current credibility of the IOC in great danger.

This lead to a meeting with Rotunda to discuss the letter and be in a position to communicate that his platform was in fact a legitimate venture. Additionally, Neves volunteered that he would send any bad actors that are within the investment space since he had been encountering some shady offers as a fund manager.

In April this year, he had the opportunity to deliver in his promises and help the security board.

How Neves Was Able to Give a Helping Hand

He was approached by a company called DigitalBank, which had marketed itself as being the Fort Knox of the crypto banking. On the official site of DigitalBank, it claims to offer 100% security with the digital assets stored on the platform, thus, makes it very hard to lose any data that is stored. Additionally, it guarantees its users a lifetime access to their digital assets.

For the untrained investor it all looks legitimate, but when one of the representatives approached Neves to discuss ways they could use his hedge fund to transfer money from the investor to the DigitalBank, he was immediately convinced that the offer was too good to be true, as it all sounded like money laundering.

Instead of cutting the company off, he strung them along and immediately contacted Rotunda and informed him of the suspicious business the company was running. Neves also created a relationship with several people at DigitalBank to ensure he had a stockpile of correspondence gathered to be used as evidence of their illegal practices.

And ever since then Neves went ahead to join a group in Telegram that constituted of other CEOs within the finical sector, for the primary purpose of trading information of any potential bad actors within the market space. He has also been using this space to dispense advice to the other members to keep the businesses they are conducting to be compliant with the regulations of the Securities and Exchange Commissions.

His Personal Mission

During an interview conducted, Neves said that the process to gather the needed evidence takes some time, and he always makes sure what he has collected correct before he forwards it to Rotunda. He also noted that if he is to hand him something, he makes sure that the information given is a slum dank for Rotunda.

Neves is now on a personal mission to ensure that he brings accountability plus a level of transparency to the industry, one that could be lacking greatly in those areas. And the work that he conducted with Rotunda is a sure way of him putting his money exactly where his mouth is. He went ahead to express his disgust with the individuals in the market who would conduct this kind of fraud that DigitalBank was into.

Neves has several plans in place, but for the immediate future, he plans on attending the crypto gatherings that are upcoming and speak widely on building transparency and trust within the market.

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