Usecrypt was promoted by numerous well-known people, such as Filip Chajzer and Patryk Vega, and was supposed to be a real breakthrough in security. The assurances of the creators of Usecrypt were questioned in 2021 by journalists from websites focused on cybersecurity – Zaufana Third Party, Niebezpiecznik and Zakładowy Informatyka.
According to the above-mentioned editors, Paweł M.’s creation was as full of holes as a sieve, and it did not take long to find loopholes in its security. However, the criticism was not met with understanding, but with threats – the people responsible for Usecrypt even went so far as to file a lawsuit against one of the authors of texts about the unfortunate messenger. It is obvious that the lawsuit was withdrawn because the report was not confirmed.
I’ve always had a mind for business
According to the website virtual Poland, Paweł M., who faced a considerable set of allegations, claimed that Usecrypt was capable of detecting the Pegasus spy software developed by the Israeli company NSO Group. Anyway, even Mossad, the Israeli intelligence service, was allegedly interested in purchasing the communicator. So do we need a better recommendation?
High-flown words encouraged many people to invest in Paweł M.’s project, but it may not have been the best decision in their lives. As it turned out, in 2021, the rights to Usecrypt were owned by a company controlled by the American Lazar Vision Fund. In turn, Usecrypt decided to take advantage of the confusion and distance itself from the past, thus changing its name to the enigmatic “V440”. As a result of this procedure, many investors were not able to recover the money for the purchased shares, which, as you can easily guess, did not meet with an optimistic approach on their part to the described event. Therefore, a notification was sent to the Warsaw District Prosecutor.
As attorney Jacek Gaj said in an interview with Wirtualna Polska, “the case concerns damage of over PLN 70 million during the purchase of shares of Usecrypt, Drone House and iME.” In turn, the spokesman for the District Prosecutor’s Office in Warsaw, Szymon Banna, confirmed that the investigation was conducted into the article of the Penal Code regarding fraud.
The Central Bureau of Investigation also looked at shares offered by Largo Capital and companies related to it, including the Nikodemus Financial Office. Not much time passed before it turned out that the “law firm” in question did not have a license to conduct business in the field of trading in financial instruments.
An accident will happen anyway
According to information obtained by Wirtualna Polska, in December last year, officers of the Central Police Investigation Bureau arrested five people involved in legal shenanigans, including the creator of Usecrypt, Paweł M. Both he and his colleagues were charged with organized criminal group. Additionally, Paweł M. was also charged with fraud, and investigators found that the companies involved in the described practice operated on the principle of a financial pyramid. However, this is not the end of surprises for the hero of this text. Money laundering was also added to the charges.
Despite everything, Paweł M. was not arrested. Instead, he was obliged to report to a police station once a week, was deprived of his passport and banned from crossing the country’s border.