Police are investigating financial operations in which tens of millions of crowns were transferred from Xixoio to private accounts. Photo credit: Freepik.

Prague, Nov 30 (CTK) – The Czech police yesterday raided the Prague headquarters of the Xixoio cryptocurrency firm, said Jaroslav Ibehej, a spokesman for the police unit fighting organised crime. Though Ibehej did not elaborate, the hn.cz server reported that the police arrested the company’s owner Richard Watzke and director Henry Ertner.

According to hn.cz, the police are investigating financial operations in which tens of millions of crowns were transferred from Xixoio to private accounts.

Xixoio’s website states that it offers investments in digital assets called tokens, which are related to real assets such as firms, real estate and machinery.

Xixoio minority shareholder Jiri Machalicky told SeznamZpravy that the police arrived, asked him some questions and requested some documents, but that he did not know why.

One year ago, the Czech central bank warned the public against investing in tokens, mentioning Xixoio. The bank warned that the firm’s presentation may give the false impression that its business model and trading was approved by the bank or at least partially regulated.

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