Swiss Crypto International Expels 70 Employees Owing to Spying Scandal

Crypto World, a successor of debatable Swiss corporate Crypto AG, is reportedly dismissing dozens of workers after a big spying scandal.

By · Aug 28, 2020 . 5min read

Crypto International news

Crypto International, a successor of debatable Swiss corporate Crypto AG, is reportedly dismissing dozens of workers after a big spying scandal. As many as 70 employees had to quit Crypto International after Crypto AG was trading backdoor products to profit agencies like the United States Central Intelligence Agency in February 2020. The firm reportedly confirmed the dismissals on August 28, 2020.

The firm stated the job losses were inevitable as the government declined to continue examining export applications the previous day. This had seized Crypto International of its resources, said the Swedish owners Emma and Andreas Linde. Moreover, the de facto export ban was imposed on the company. However, the couple emphasized that the basis of the prohibition was on false foundations and assumptions.

In July, the mass dismissal had already been declared by the successor company to Zug-based Crypto AG. It stands indicted for supporting the CIA and German secret service backdoor access to its encryption devices. Established in 2018, Crypto International focuses on offering cybersecurity solutions. It displays the same brand name as the former Crypto AG. Nevertheless, the company claims to have other owners, other management, and a different strategy and scope. Further, Crypto International obtained the rights to the scandal-tainted Crypto AG company in 2018.

Crypto International Barred from General Export

 The economics ministry barred the general export permit for Crypto’s internationally active successor companies in mid-December. The government started an investigation into the Crypto affair on February 11. Moreover, it elected former federal judge Niklaus Oberholzer to lead the probe. The management of this investigation is now by the parliamentary control delegation, which is proceeding its inquiry.

According to the report, the Swedish couple had registered the new company Asperiq AG in the commercial register after the job losses. Additionally, it has also developed its board of directors. According to the commercial record, the purpose of the company is to manufacture telecommunications and consumer electronics goods. However, the register did not contain any information on ownership or shareholdings.

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