We are sorry to inform you that several force majeure events have happened over the last few days that have significantly undermined the financial stability of the company. BIZNET faces serious pressure in Russia right now, because of which we are forced to take an urgent and unexpected leave from the Russian market.
As from October 1, 2017, we are suspending all our activities on the territory of the Russian Federation, as well as closing registration and participation for all permanent residents of Russia and Russian citizens temporarily living abroad. Since it is technically impossible to conduct verification of all accounts in such a short period of time, the administration has decided to unilaterally close all accounts registered from Russia, as well as from 10 other countries, where large numbers of Russian citizens reside. Within the next 24 hours, the invested funds of customers from the affected countries will be automatically returned to one of the wallets saved in their profile settings.
This urgent and unexpected leave from the Russian market is a serious force majeure, to which we have not been prepared technically, legally, financially, or morally. Currently, Russia is the second largest investor country among our investors, and the total amount invested by Russian citizens exceeds 30% of the company’s total assets. During the last 24 hours, we had to withdraw large amounts of money from our trading accounts urgently and with substantial losses, in order to refund all customers of the affected countries. This has seriously undermined the financial stability of the company, as we are now facing a significant drawdown on our trading accounts, whereas all our other projects (own cryptocurrency, social network, and mining), to which we have already devoted a lot of energy and resources, are still at the development stage and have not started to generate any profits yet.
Right now, we are developing an anti-crisis plan. In this context, we have temporarily frozen all active accounts and stopped crediting any further profits. We are trying to estimate an approximate time needed to launch our other products, the profits from which could substantially cover our current losses.
Please, accept this situation with understanding. We really want to get off this situation in the fairest way possible, with respect towards all our investors and partners. We will get in touch with you regularly to keep you updated with current news.
The BIZNET team
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