Topic: The Rock Trading Scam www.therocktrading.com Exchange Review fraud opinion (Read 35932 times)

It is good this news went to those publications you mentioned but it is strange it not receive more attention.

This sort of news should have been much larger and on mainstream media because losing €15-20 million in any business is news. It could be that because many people still do not understand crypto that it did not make big headlines.

After the investigations are completed there could be criminal charges. The money lost has been a disaster and setback for investors. I feel sorry for them.

there have been a few newspapers that have disclosed the news, but mostly they have been sites and provincial newspapers, I must say that even some excellent newspapers have talked about it such as "ilsole24ore" or even "il Corriere della Sera". but despite this he hasn't made all this media noise

I read the transcripts that Lillominato published and there are some really scandalous things, people were selling crypto to cover the holes and pay the EURO cashouts.
Crazy, really embarrassing management.

I read the transcripts that Lillominato published and there are some really scandalous things, people were selling crypto to cover the holes and pay the EURO cashouts.
Crazy, really embarrassing management.

Has this story began to make any serious headlines in the Italian media? After all, the mere mention of €15-20 million missing from a local company should be making some sort of noise in the media by now.

there is almost nothing around the web about the defeats of the rock trading, unfortunately it is one of the Italian mysteries, but I have to correct myself, it was not 900 eth but € 900,000 equivalent to 300 eth, the only article I found was not from that period but it is recent,
https://firenze.repubblica.it/cronaca/2023/02/28/news/criptovalute_piattaforma_trt_soldi_bloccati_investitori_allarme_fascicolo_procura_firenze-389833306/ unfortunately it is paid and you cannot read everything in full

     1. 15648: paci (Trust: !!!:  +1 / =0 / -2) (0 Merit earned) (Trust list) (BPIP)

Did that alleged 2019 ETH hack ever make the news? I have no recollection of reading about it in this thread.

As for Italian law stating capital gains of €2000 and more should be declared, that might be down to personal tax issues. For companies or corporations it will probably be using a different format. Having said that I do find strange all these years had passed and Rock Trading were not checked or audited independently. They probably filed annual accounts as with most companies around the world but exactly which figures were stated is an altogether different issue.

in 2019 they had a hack of over 900 eth, subsequently declared and then budgeted and capped the loss with own funds (according to TRT)! that something was wrong could already be guessed but no one has ever investigated the accounts of TRT, think that the auditing firm which had the obligation to validate the financial statements after the appropriate checks did not even notice the loss of 15-20 million ! as you say, and I fully agree with the Italian laws often leave something to be desired! rightly so if you make a capital gain of over €2000 you have to declare it, please, but if you lose 15-20 million you turn a blind eye

First, I  apologize @Coinfan and @Jollygood if a few times my responses to this thread have been a bit dubious.
Unfortunately, despite being one of the oldest exchanges, TRT also proved to be unreliable.
I think Italian law is the first to blame in this sad affair becasue it was not able to protect the customers who had relied on TRT: in fact, it was enough to look at the latest financial statements to understand that something was wrong ( here is my analysis in the Italian discussion https://bitcointalksearch.org/topic/m.61974099 ) .
The seriousness lies in the fact is that Italian law has only ever been concerned about AML & KYC has never cared to check TRT's financial soundness.
For the Italian goverment in short you can be swindled by a bank or an exhange that guards your assets, the important thing is that you are not a tax evader or a criminal.
I am sorry because what happened will further contribute to increasing the FUD about cryptocurrencies in my country.

I am a user of The rock trading but fortunately after the FTX affair I had removed all my funds from TRT, there weren't many honestly but I wanted to keep everything safe. it was declared by the assembly that there is a gap between 15-20 million but the exact amount is not known, on April 4 perhaps we will know better. it will surely be declared bankrupt! difficult to say if the victims will be able to get some reimbursement, if OP wants he could join the group because it is a collective initiative, obviously he must evaluate

I do not have Telegram but thank you for adding a lot of information within your post.

If you are part of the group it is probably because you are a victim. If so, I am sorry about that as I am sorry for all victims. Are you at Liberty to say how much money you have (approximately) lost?

If the translation states there is a shortfall of €15-€20 million then that will be the end of the exchange as they will not recover losses. Also, any idea of clients swapping their losses for shares in a new version of the Rock Trading seems preposterous.

unfortunately I don't have a link to the official meeting minutes, if it goes well I can send you the link of the legal protection telegram group where the lawyers of scammed users were present https://t.me/therocktradinghelp I got the information from there, since I am part of the group

Do you have a link? It would be good to read the information directly from the source to understand what was stated in full.

22 Marzo 2023
Vicenda The Rock Trading

Riepilogo della giornata 33 .

- nessuno sviluppo sul fronte delle indagini.
- si e’ tenuta oggi l’assemblea della controllante Digital RockHolding.
Presiede l’assemblea la Dott.ssa Barsalini, presidente dimessa in prorogatio, assistita dal notaio De Costa.
Barbieri e Medri presenti per  delega in quanto soci DRH .
E’ presente il 78,2 % del capitale DRH .
Presente Dott. Pregnolato membro del CdA DRH ed i sindaci  Amadio, Lucchini e Borrola.
Medri e’ arrivato verso le 10:40 ed e’ intervenuto.
C’è un ammanco nella gestione di TRT : cause non precisate.
Medri lo quantifica in 15/20 milioni di Euro , fino a che lui ne avrebbe avuto il controllo.
A mia precisa domanda su quanti siano i clienti ed quanto ammontassero i fondi sulla piattaforma, la risposta è stata 12200 clienti, di cui 8000 con più di 10 euro.
Ammontare complessivo gestito: non sa dire. Come pure non sa dire se ammanco sia più ampio.
L’assemblea era convocata per il rinnovo del CdA di DRH : gli azionisti di riferimento non hanno però presentato liste, per cui il CdA continuerà in prorogatio.
Domani a Milano si terrà’ udienza per la nomina di un amministratore straordinario della società, il quale deciderà di fatto il destino di DRH e della controllata TRT.
Si e’ saputo altresì che e’ stata presentata istanza di fallimento per TRT che sarà discussa il 4 aprile.
Il nostro membro Borzi, anch’egli presente in assemblea , ha stigmatizzato il fatto che in nessuno dei bilanci, ne’ di DRH ne’ di TRT , sarebbero stati riportati i dati ne’ sul numero clienti ne’ sugli importi amministrati complessivamente dall’ exchange.
L’impressione generale ricavata da questa assemblea, e’ che ciascuno degli attori in campo fosse più impegnato a sgravare la propria posizione rispetto alla responsabilità degli altri.
Medri in particolare ha spiegato che lui si e’ sempre occupato di amministrazione, commerciale e di antiriclaggio, avendo delegato ad altri le attività più proprie di gestione tecnica delle valute.
L’unica conferma che si e’ avuta in assemblea, da parte dei sindaci , e’ la sussistenza di un accordo transattivo firmato da Medri, dove si sarebbe , a detta dei Sindaci, assunto la responsabilità per un ammanco nei confronti di tal BF , dell’importo di 3,2 mni di Euro, segnalato in data 26 gennaio a DRH, e da cui sarebbe derivato lo show down.
L’assemblea si e’ chiusa con la delibera di riconvocazione di assemblea per la nomina del CdA entro 30 giorni con voto favorevole del delegato di Medri e contrario Barbieri .
- Mentre continueremo a monitorare la situazione societaria, per il caso si aprissero spazi per un salvataggio, chi aveva ancora dubbi sulla necessità di avviare la propria tutela, da oggi può procedere: ogni illusione e’ caduta.
Resta da capire solo quanto sia grande l’ammanco.
Siti andrà avanti per la propria strada : raccolta documenti, denuncia, costituzione a processo, chiamata dei responsabili civili per il risarcimento.
Per far ciò, ha avviato la propria campagna di tutela collettiva , a favore dei clienti TRT e dei soci della controllante DRH : le istruzioni per aderire al seguente link https://t.me/therocktradinghelp/13302 .
Per il tutorial cliccare qui https://t.me/therocktradinghelp/13945 . Si invitano gli interessati ad aderire prima possibile, per evitare colli di bottiglia.
- la piattaforma e’ ancora aperta, solo per consultazione: ai fini della iniziativa di tutela , basta riepilogo posizioni in essere alla data di chiusura.
- il Poll circa la disponibilità dei clienti a concambiare propri crediti in partecipazioni di una ipotetica “nuova TRT” al link : https://t.me/therocktradinghelp/8653 ;
- il Poll sui possessi su https://t.me/therocktradinghelp/1044
- Le ultime notizie sulla sanatoria fiscale qui https://t.me/therocktradinghelp/14209
- Questo infine il link alla chat The Rock Trading Tutela Legale : https://t.me/therocktradinghelp .
Vi preghiamo di diffondere questo riepilogo sugli altri social.

Cordialmente
Dott. Domenico Bacci
Segretario Nazionale del Siti
www.sindacatositi.It

today the shareholders' meeting of the rock trading was held, it came out that they have a fairly large loss of money estimated at between 15 and 20 million euros but in reality the actual amount of the loss is not known. they say, but it will be verified, that they have suffered a violation of their wallets where they kept user funds. in the meantime, a bankruptcy petition has been filed and will be discussed on 4 April next.

First, I  apologize @Coinfan and @Jollygood if a few times my responses to this thread have been a bit dubious.
Unfortunately, despite being one of the oldest exchanges, TRT also proved to be unreliable.
I think Italian law is the first to blame in this sad affair becasue it was not able to protect the customers who had relied on TRT: in fact, it was enough to look at the latest financial statements to understand that something was wrong ( here is my analysis in the Italian discussion https://bitcointalksearch.org/topic/m.61974099 ) .
The seriousness lies in the fact is that Italian law has only ever been concerned about AML & KYC has never cared to check TRT's financial soundness.
For the Italian goverment in short you can be swindled by a bank or an exhange that guards your assets, the important thing is that you are not a tax evader or a criminal.
I am sorry because what happened will further contribute to increasing the FUD about cryptocurrencies in my country.

edit:
I was told by an italian trader, that Andrea told him the opposite, that all money would be stuck at international bank.
So this is clear sign of lies and I think legal actions must be taken.