"Bankera" Changes Name to "Era Ventures" Amidst Past Crypto Controversy

The Lithuanian company previously known as "Bankera" has officially changed its name to "Era Ventures." This rebranding decision was made on July 27 by the company's shareholder, "Era Ventures," an investment management firm based in Liechtenstein. The name change was registered in early August, and according to BNS, existing contracts and transactions remain valid despite the alteration.

Seven years ago, "Bankera" initiated the distribution of crypto tokens, a project that successfully raised tens of millions of euros. These funds were reportedly transferred to "Pacific Private Bank," which was acquired by "Bankera's" founders, Vytautas Karalevičius, Mantas Mockevičius, and Justas Dobiliauskas, shortly before the token distribution concluded. The "Bankera" project, through the sale of "Banker" (BNK) crypto tokens, attracted over 100 million euros from more than 100,000 individuals between 2017 and 2018.

However, following a surge of interest in "Bankera's" initial coin offering (ICO), the value of BNK tokens plummeted, resulting in significant losses for investors. The BNK tokens were created and issued by "Finalify Ltd.," a company registered in the British Virgin Islands. The virtual currency exchange "SpectroCoin," managed through the Lithuanian company "Spectro Finance," was the platform where investors could purchase these tokens. Investigations revealed that over 45 million euros were transferred from a "SpectroCoin" account in Lithuania to another bank account held by the same company at "Pacific Private Bank."