{"id":17125,"date":"2023-07-10T06:00:00","date_gmt":"2023-07-10T04:00:00","guid":{"rendered":"https:\/\/rethink-p2p.de\/?page_id=17125"},"modified":"2026-09-28T17:40:06","modified_gmt":"2026-09-28T15:40:06","slug":"credon-review","status":"publish","type":"page","link":"https:\/\/rethink-p2p.de\/en\/credon-review\/","title":{"rendered":"Credon Review 2026"},"content":{"rendered":"<p><span style=\"font-size: 1.125rem;\">\n    <div style=\"border:1px solid #c8c8c8;border-radius:8px;overflow:hidden;margin:1.5rem 0;background:#f9f9f9;box-shadow:0 2px 8px rgba(0,0,0,0.10);\">\n      <div style=\"padding:16px 20px 20px;\">\n       <div style=\"font-weight:700;font-size:1.1em;margin:0 0 -8px 0;padding:0;line-height:1.4;\">\n          Key Takeaways\n        <\/div>\n        <div style=\"margin-top:2px;\"><\/span><\/p>\r\n\n    <div style=\"display:flex;gap:10px;align-items:flex-start;margin-bottom:12px;padding-top:0px;\">\n      <span style=\"flex-shrink:0;line-height:1.6;\">\u2022<\/span>\n      <span style=\"display:block;margin:0;line-height:1.6;\">Credon is a Croatian P2P marketplace that has been in insolvency proceedings since May 2023. The platform is largely offline and investor funds have not been accessible since early 2023.<\/span>\n    <\/div>\r\n\n    <div style=\"display:flex;gap:10px;align-items:flex-start;margin-bottom:12px;padding-top:0px;\">\n      <span style=\"flex-shrink:0;line-height:1.6;\">\u2022<\/span>\n      <span style=\"display:block;margin:0;line-height:1.6;\">Behind Credon stands Lithuanian businessman Juozas Rup\u0161ys, who holds 100% of the shares through his parent company UAB HST KOMUNIKACIJOS and maintains close ties to the P2P platform Hive5.<\/span>\n    <\/div>\n    <div style=\"display:flex;gap:10px;align-items:flex-start;margin-bottom:12px;padding-top:0px;\">\n      <span style=\"flex-shrink:0;line-height:1.6;\">\u2022<\/span>\n      <span style=\"display:block;margin:0;line-height:1.6;\">Credon misled investors with false licence claims, failed to pay its former CEO for months and did not comply with court-ordered obligations.<\/span>\n    <\/div>\n    <div style=\"display:flex;gap:10px;align-items:flex-start;margin-bottom:12px;padding-top:0px;\">\n      <span style=\"flex-shrink:0;line-height:1.6;\">\u2022<\/span>\n      <span style=\"display:block;margin:0;line-height:1.6;\">Due to a lack of statistics, there is still no overview of the total investor volume or the actual overall losses to date.<\/span>\n    <\/div><\/div>\n      <\/div>\n    <\/div>\r\n<hr \/>\r\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rethink-p2p.de\/en\/credon-review\/#What_is_Credon\" title=\"What is Credon?\">What is Credon?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rethink-p2p.de\/en\/credon-review\/#Who_owns_Credon\" title=\"Who owns Credon?\">Who owns Credon?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rethink-p2p.de\/en\/credon-review\/#Credon_Chronology\" title=\"Credon Chronology\">Credon Chronology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rethink-p2p.de\/en\/credon-review\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rethink-p2p.de\/en\/credon-review\/#FAQ_Credon_Review\" title=\"FAQ Credon Review\">FAQ Credon Review<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Credon\"><\/span><strong>What is Credon?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/p2p-kredite\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-17028 alignleft lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P.jpg\" alt=\"\" width=\"300\" height=\"169\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/169;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-17028 alignleft\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P.jpg\" alt=\"\" width=\"300\" height=\"169\" \/><\/noscript><\/a><\/p>\r\n<p>Credon is a P2P marketplace operating in Croatia (Credon P2P d.o.o.), which belongs to Lithuanian-based company HST KOMUNIKACIJOS, UAB.<\/p>\r\n<p>Credon has attracted attention over the years with many contradictions, inconsistencies and misleading information. It therefore seems unsurprising that, according to the Croatian Business Register, the platform has been entering insolvency in 2023 &#8211; although the platform only communicated a temporary maintenance work on the software.<\/p>\r\n<p>On this page, the events and chronology of Credon will be reviewed as far as possible.<\/p>\r\n<p>Investors should read this Credon review carefully as Credon maintains very close ties with the newly emerging P2P platform <a href=\"https:\/\/rethink-p2p.de\/en\/hive5-review\/\" target=\"_blank\" rel=\"noopener\"><strong>Hive5<\/strong><\/a>.<\/p>\r\n<h3 class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"><strong>Credon at a Glance<\/strong><\/h3>\r\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\">All key facts and figures about Credon at a glance.<\/p>\r\n<div class=\"su-table su-table-alternate\">\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td><strong>Started:<\/strong><\/td>\r\n<td>August 2021 (<a href=\"https:\/\/web.archive.org\/web\/20210805082617\/https:\/credon.com\/\" target=\"_blank\" rel=\"noopener\"><strong>Source<\/strong><\/a>)<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Legal Name:<\/strong><\/td>\r\n<td>Credon P2P d.o.o. (<strong><a href=\"https:\/\/sudreg.pravosudje.hr\/registar\/f?p=150:28:0::NO::P28_SBT_MBS:081413068\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/strong>)<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Headquarter:<\/strong><\/td>\r\n<td>Zagreb, Croatia<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Main Shareholder:<\/strong><\/td>\r\n<td>HST KOMUNIKACIJOS, UAB (<a href=\"https:\/\/rekvizitai.vz.lt\/en\/company\/hst_komunikacijos\/\" target=\"_blank\" rel=\"noopener\"><strong>Link<\/strong><\/a>)<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>UBO:<\/strong><\/td>\r\n<td>Juozas Rup\u0161ys (<a href=\"http:\/\/www.kursurasti.lt\/lt\/katalogas\/Kitas-kredito-teikimas\/hst-komunikacijos-uab.html\" target=\"_blank\" rel=\"noopener\"><strong>Link<\/strong><\/a>)<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Regulated:<\/strong><\/td>\r\n<td>No<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>CEO:<\/strong><\/td>\r\n<td>Not Stated<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Expected Return:<\/strong><\/td>\r\n<td>Not Stated<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Primary Loan Type:<\/strong><\/td>\r\n<td>Consumer Loans<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<hr \/>\r\n<h2><span class=\"ez-toc-section\" id=\"Who_owns_Credon\"><\/span><strong>Who owns Credon?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<p>The P2P platform Credon is represented by the company <a href=\"https:\/\/sudreg.pravosudje.hr\/registar\/f?p=150:28:0::NO::P28_SBT_MBS:081413068\" target=\"_blank\" rel=\"noopener\"><strong>Credon P2P d.o.o.<\/strong><\/a> registered in Croatia. According to the Croatian Business Register, the P2P Platform has two beneficiary shareholders:<\/p>\r\n<ul>\r\n<li><strong>Juozas Rup\u0161ys:<\/strong> 50% of the shares<\/li>\r\n<li><strong>Volodymyr Utenko:<\/strong> 50% of the shares via Capital Invest Group Ltd.<\/li>\r\n<\/ul>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17051 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register.png\" alt=\"\" width=\"992\" height=\"606\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register.png 992w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register-300x183.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register-768x469.png 768w\" data-sizes=\"(max-width: 992px) 100vw, 992px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 992px; --smush-placeholder-aspect-ratio: 992\/606;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17051\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register.png\" alt=\"\" width=\"992\" height=\"606\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register.png 992w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register-300x183.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-d.o.o.-Auszug-Register-768x469.png 768w\" sizes=\"(max-width: 992px) 100vw, 992px\" \/><\/noscript><\/a><\/p>\r\n<p>This information coincides with the shareholder breakdown of the Latvian company <a href=\"https:\/\/b2bhint.com\/en\/company\/lv\/credon--40103638290\" target=\"_blank\" rel=\"noopener\"><strong>SIA, Credon<\/strong><\/a>, which was the legal entity of the platform at the beginning of Credon&#8217;s activities (<strong><a href=\"https:\/\/web.archive.org\/web\/20210805082617\/https:\/credon.com\/\" target=\"_blank\" rel=\"noopener\">source<\/a><\/strong>).<\/p>\r\n<p>The Croatian company Credon P2P d.o.o. is in turn managed by the Lithuanian company <a href=\"https:\/\/rekvizitai.vz.lt\/en\/company\/hst_komunikacijos\/\" target=\"_blank\" rel=\"noopener\"><strong>HST KOMUNIKACIJOS, UAB<\/strong><\/a>. Juozas Rup\u0161ys is the sole shareholder and holds 100% of the shares in the company.<\/p>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17057 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner.png\" alt=\"\" width=\"1000\" height=\"537\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner-300x161.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner-768x412.png 768w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/537;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17057\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner.png\" alt=\"\" width=\"1000\" height=\"537\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner-300x161.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-P2P-HST-KOMUNIKACIJOS-Ultimate-Beneficial-Owner-768x412.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\r\n<h3>Juozas Rup\u0161ys<\/h3>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5.png\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-15918 alignleft lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5.png\" alt=\"\" width=\"400\" height=\"397\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5.png 400w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5-300x298.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5-150x150.png 150w\" data-sizes=\"(max-width: 400px) 100vw, 400px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 400px; --smush-placeholder-aspect-ratio: 400\/397;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-15918 alignleft\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5.png\" alt=\"\" width=\"400\" height=\"397\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5.png 400w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5-300x298.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/04\/Juozas-Rupsys-Credon-P2P-Scam-Hive5-150x150.png 150w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/noscript><\/a>According to my research so far, Juozas Rup\u0161ys (<a href=\"https:\/\/www.linkedin.com\/in\/juozas-rup%C5%A1ys\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn Profile<\/strong><\/a>) is the key figure behind the P2P platform Credon. He holds 50% of the shares in the Croatian Credon P2P d.o.o. and is also the sole shareholder of the parent company HST KOMUNIKACIJOS, UAB.<\/p>\r\n<p>Juozas is a Lithuanian businessman who in 2013 developed <em>creditonline.eu<\/em>, a white-label software solution for lenders and P2P platforms. This provides the platforms with a CRM infrastructure in the background with which they can operate a P2P lending business model.<\/p>\r\n<p>The Croatian-based P2P platform Hive5 also uses Creditonline&#8217;s products and services (<a href=\"https:\/\/rethink-p2p.podigee.io\/211-hive-5-ceo-interview\" target=\"_blank\" rel=\"noopener\"><strong>source from minute 18:39<\/strong><\/a>). This seems hardly surprising, since Juozas Rup\u0161ys is the godfather of Hive Finance&#8217;s majority shareholder Andrius Rup\u0161ys.<\/p>\r\n<p>The P2P platform Credon is most likely named after his own company: <strong>Cred<\/strong>it<strong>on<\/strong>line.<\/p>\r\n<h3>UAB, HST KOMUNIKACIJOS<\/h3>\r\n<p>The Lithuanian&#8221;UAB, HST KOMUNIKACIJOS is the parent company of the Croatian Credon P2P d.o.o. According to the Lithuanian register, the company&#8217;s financial results are extremely bad.<\/p>\r\n<p>The revenue, which has never exceeded EUR 15,000 in the last five business years and which has also decreased from year to year, is offset by annual losses in the mid five-digit range.<\/p>\r\n<p><a style=\"font-size: inherit; font-family: var(--text-font);\" href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17059 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz.png\" alt=\"\" width=\"910\" height=\"379\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz.png 910w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz-300x125.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz-768x320.png 768w\" data-sizes=\"(max-width: 910px) 100vw, 910px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 910px; --smush-placeholder-aspect-ratio: 910\/379;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17059\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz.png\" alt=\"\" width=\"910\" height=\"379\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz.png 910w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz-300x125.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-HST-KOMUNIKACIJOS-Umsatz-768x320.png 768w\" sizes=\"(max-width: 910px) 100vw, 910px\" \/><\/noscript><\/a><\/p>\r\n<p>In this respect, the Lithuanian holding company is more reminiscent of a kind of empty shell, without any recognisable business activities.<\/p>\r\n<hr \/>\r\n<h2><span class=\"ez-toc-section\" id=\"Credon_Chronology\"><\/span>Credon Chronology<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<p>The following is an attempt to chronicle the developments of Credon. All sections are based on reliable and verifiable sources.<\/p>\r\n<h3>Credon Starts P2P Platform in Latvia<\/h3>\r\n<p><strong>07.06.2021: <\/strong>Lithuanian businessman Juozas Rup\u0161ys is registered as a beneficiary partner of the Latvian company <a href=\"https:\/\/b2bhint.com\/en\/company\/lv\/credon--40103638290\" target=\"_blank\" rel=\"noopener\"><strong>Credon, SIA<\/strong><\/a> (<a href=\"https:\/\/b2bhint.com\/en\/officer\/102464475\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<p><strong>20.07.2021: <\/strong>The name &#8220;Credon&#8221; is added to the trademark register of Lithuania (<span style=\"color: var(--text-color); font-family: var(--text-font); font-size: 1.125rem;\"><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-Markenregister-Litauen.pdf\" target=\"_blank\" rel=\"noopener\"><strong>PDF<\/strong><\/a><\/span>)<\/p>\r\n<p><strong>05.08.2021: <\/strong>First archived screenshot of the Credon website via Wayback Machine (<strong><a href=\"https:\/\/web.archive.org\/web\/20210805082617\/https:\/credon.com\/\">source<\/a><\/strong>). The Latvian company &#8220;CREDON, SIA&#8221; is listed as the operator of the P2P platform (Company Code: 40103638290; VAT Number: LV40103638290; Address: \u0122ertr\u016bdes iela 20 &#8211; 6A, R\u012bga, Latvija, LV-1011).<\/p>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer-.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17072 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer-.png\" alt=\"\" width=\"1000\" height=\"284\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer-.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer--300x85.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer--768x218.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer--350x100.png 350w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/284;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17072\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer-.png\" alt=\"\" width=\"1000\" height=\"284\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer-.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer--300x85.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer--768x218.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-SIA-Footer--350x100.png 350w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\r\n<p><strong>10.08.2021: <\/strong>Ukrainian <a href=\"https:\/\/b2bhint.com\/en\/officer\/102464476\" target=\"_blank\" rel=\"noopener\"><strong>Volodymyr Utenko<\/strong><\/a> is added as a beneficiary shareholder of the Latvian company <a href=\"https:\/\/b2bhint.com\/en\/company\/lv\/credon--40103638290\"><strong>Credon, SIA<\/strong><\/a>.<\/p>\r\n<p><strong>21.10.2021: <\/strong>Credon is offered for promotion via the affiliate platform &#8220;CircleWise&#8221;.<\/p>\r\n<p><strong>04.11.2021:\u00a0<\/strong>A meeting of the parent company HST KOMUNIKACIJOS is held, chaired by the owner Juozas Rupsys, at which it is decided, among other things, that the company will establish a Credon subsidiary in Croatia and that the Polish citizen <a href=\"https:\/\/www.linkedin.com\/in\/julia-wy%C5%BCewska-7b7b5114b\/\"><strong>Julia Wy\u017cewska<\/strong><\/a> will be appointed as CEO of the new Croatian Credon platform. The document is signed by <a href=\"https:\/\/www.linkedin.com\/in\/rasa-urbonait%C4%97-2336587a\/\" target=\"_blank\" rel=\"noopener\"><strong>Rasa Urbonait\u0117<\/strong><\/a>, who was the director of HST Komunikacijos at the time (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Protokoll-HST-KOMUNIKACIJOS-Grundung-Credon-P2P-d.o.o.pdf\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<h3>Credon Spreads Misleading Informationen on Licenses<\/h3>\r\n<p><strong>25.11.2021:\u00a0<\/strong>Via CircleWise, the announcement is made that the Credon P2P platform has been granted a total of four licences by the Central Bank of Lithuania (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen.png\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<blockquote>\r\n<p><em>&#8220;I would like to share with you that the CREDON P2P investing platform obtained four licences for crowdfunding and P2P platforms.&#8221;<\/em><\/p>\r\n<\/blockquote>\r\n<p class=\"LC20lb MBeuO DKV0Md\">????\u00a0This information is clearly misleading. On one hand, because the licences were issued to the Lithuanian parent company <strong><a href=\"https:\/\/www.lb.lt\/en\/sfi-financial-market-participants\/uab-hst-komunikacijos\">UAB, HST KOMUNIKACIJOS<\/a><\/strong>, on the other hand, because these licences have no influence on the operation of the Credon P2P platform via the Latvian SIA, Credon. The platform therefore promotes itself with licences that have no relevance for the legal scope of the platform.<\/p>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17034 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen.png\" alt=\"\" width=\"1000\" height=\"497\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen-300x149.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen-768x382.png 768w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/497;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17034\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen.png\" alt=\"\" width=\"1000\" height=\"497\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen-300x149.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Lizenzen-Zentralbank-Litauen-768x382.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\r\n<h3>Latvian Regulator Responds &#8211; Credon Removes Information<\/h3>\r\n<p><strong>29.11.2021: <\/strong>The website removes the reference in the footer that the platform is operated by the Latvian company &#8220;CREDON, SIA&#8221;\u00a0(<a href=\"https:\/\/web.archive.org\/web\/20211229084430\/https:\/\/credon.com\/\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<p><strong>03.12.2021:\u00a0<\/strong>An email I received from the Latvian FCMC Financial Supervisory Authority confirms that Credon&#8217;s services may not be carried out without the required licence (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC-.png\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<blockquote>\r\n<p><em>&#8220;We agree with you that Credon\u2019s activities should be regulated and that Credon is not entitled to offer these investment services without an appropriate licence.&#8221;<\/em><\/p>\r\n<\/blockquote>\r\n<p>In addition, the Financial regulator also points out that the licences obtained by the parent company in Lithuania do not have a sufficient basis for the provision of these services and that Credon is spreading misleading information for inexperienced investors.<\/p>\r\n<blockquote>\r\n<p><em>&#8220;As regards the information provided by Credon relating to the licences obtained by the parent company in Lithuania, we agree that this is not a sufficient basis for Credon to provide these services and it would be misleading for inexperienced investors.&#8221;<\/em><\/p>\r\n<\/blockquote>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC-.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17070 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC-.png\" alt=\"\" width=\"1252\" height=\"638\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC-.png 1252w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC--300x153.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC--1024x522.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC--768x391.png 768w\" data-sizes=\"(max-width: 1252px) 100vw, 1252px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1252px; --smush-placeholder-aspect-ratio: 1252\/638;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17070\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC-.png\" alt=\"\" width=\"1252\" height=\"638\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC-.png 1252w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC--300x153.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC--1024x522.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Scam-FCMC--768x391.png 768w\" sizes=\"(max-width: 1252px) 100vw, 1252px\" \/><\/noscript><\/a><\/p>\r\n<p><strong>14.12.2021: <\/strong><span style=\"font-size: inherit; color: var(--text-color); font-family: var(--text-font);\">In the welcome email to a newly registered user, Rasa Urbonait\u0117 is stated in the signature as the CEO of the Credon P2P platform<\/span><span style=\"font-size: inherit; color: var(--text-color); font-family: var(--text-font);\">. However, there is no entry in her LinkedIn profile regarding an employment with the platform. Her connection with Juozas Rup\u0161ys through the network is visible though (<\/span><a style=\"font-size: inherit; font-family: var(--text-font);\" href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Rasa-Urbonaite.png\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a><span style=\"font-size: inherit; color: var(--text-color); font-family: var(--text-font);\">).<\/span><\/p>\r\n<p>According to my information, Rasa has been the director at the Lithuanian parent company HST KOMUNIKACIJOS, UAB, which is owned by Juozas Rup\u0161ys, between 24.01.2012 and 13.05.2022 (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Rasa-Urbonaite-HST-KOMUNIKACIJOS-.png\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<h3>Credon Changes Jurisdiction to Croatia<\/h3>\r\n<p><strong>21.05.2022:\u00a0<\/strong>The website states that the platform is now operated by the Croatian company &#8220;Credon P2P d.o.o.&#8221; (<a href=\"https:\/\/web.archive.org\/web\/20220521032103\/https:\/credon.com\/\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>). According to the Croatian register extract, Credon P2P d.o.o. still belongs to the Lithuanian company UAB, HST KOMUNIKACIJOS (<a href=\"https:\/\/sudreg.pravosudje.hr\/registar\/f?p=150:28:0::NO::P28_SBT_MBS:081413068\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer-.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17076 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer-.jpg\" alt=\"\" width=\"1459\" height=\"468\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer-.jpg 1459w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer--300x96.jpg 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer--1024x328.jpg 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer--768x246.jpg 768w\" data-sizes=\"(max-width: 1459px) 100vw, 1459px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1459px; --smush-placeholder-aspect-ratio: 1459\/468;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17076\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer-.jpg\" alt=\"\" width=\"1459\" height=\"468\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer-.jpg 1459w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer--300x96.jpg 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer--1024x328.jpg 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Credon-P2P-DOO-Footer--768x246.jpg 768w\" sizes=\"(max-width: 1459px) 100vw, 1459px\" \/><\/noscript><\/a><\/p>\r\n<p><strong>15.06.2022: <\/strong><span style=\"font-size: inherit; color: var(--text-color); font-family: var(--text-font);\">The Credon offer is paused \/ removed via the affiliate platform CircleWise (<\/span><a style=\"font-size: inherit; font-family: var(--text-font);\" href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Circlewise.jpg\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a><span style=\"font-size: inherit; color: var(--text-color); font-family: var(--text-font);\">).<\/span><\/p>\r\n<p>???? According to CircleWise&#8217;s statement, the removal of the platform was due to overdue and unpaid invoices.<\/p>\r\n<h3>Hive5 Website Goes Online!<\/h3>\r\n<p><strong>16.08.2022: <\/strong>The website of the Croatian P2P platform Hive5, with shareholder\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/andrius-rup%C5%A1ys-55581b6\/\" target=\"_blank\" rel=\"noopener\"><strong>Andrius Rup\u0161ys<\/strong><\/a> (65% of the shares in the Lithuanian company &#8220;UAB Hive Finance&#8221;) and <strong><a href=\"https:\/\/www.linkedin.com\/in\/ricardas-vandzinskas\/\" target=\"_blank\" rel=\"noopener\">Ri\u010dardas Vandzinskas<\/a><\/strong> (35% of the shares in the Lithuanian company &#8220;UAB Hive Finance&#8221;) goes online.<\/p>\r\n<p>The Hive5 P2P platform is built with the help and support of Creditonline&#8217;s software infrastructure (by Juozas Rup\u0161ys). Discussion from minute 18:39.<\/p>\r\n<p><script class=\"podigee-podcast-player\" src=\"https:\/\/player.podigee-cdn.net\/podcast-player\/javascripts\/podigee-podcast-player.js\" data-configuration=\"https:\/\/rethink-p2p.podigee.io\/211-hive-5-ceo-interview\/embed?context=external\"><\/script><\/p>\r\n<h3>Ex-Credon CEO Not Paid for 7 Months<\/h3>\r\n<p><strong>27.01.2023:<\/strong> In court, Credon is ordered to pay ex-CEO Julia Wy\u017cewska seven outstanding monthly salaries amounting to the equivalent of EUR 28,800. The Polish woman, who only joined Credon in November 2021, had not been paid her salary since mid-January 2022. As a result, there are increasing indications that she was primarily used as a straw man for the opening of the Croatian company (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Ex-Credon-CEO-Julia-Wyzewska.pdf\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<p>???? Credon hires a CEO who is no longer paid soon afterwards.<\/p>\r\n<h3>Croatian Commercial Court Opens Bankruptcy Proceedings Against Credon<\/h3>\r\n<p><strong>28.03.2023: <\/strong><span style=\"font-size: inherit; color: var(--text-color); font-family: var(--text-font);\">The financial agency &#8220;FINA&#8221; filed a petition for the opening of bankruptcy proceedings against Credon, as payment arrears in the amount of EUR 12,432.92. The Commercial Court in Zagreb then ordered Credon&#8217;s authorised persons to submit a notarised list of assets and liabilities (<\/span><a style=\"font-size: inherit; font-family: var(--text-font);\" href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-Eroffnung-Konkursverfahren.pdf\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a><span style=\"font-size: inherit; color: var(--text-color); font-family: var(--text-font);\">).<\/span><\/p>\r\n<p>???? Bankruptcy proceedings are opened against Credon due to persistent arrears.<\/p>\r\n<p><strong>29.04.2023:\u00a0<\/strong><a href=\"https:\/\/rethink-p2p.de\/en\/hive5-review\" target=\"_blank\" rel=\"noopener\"><strong>Hive5 Review<\/strong><\/a> is published on the blog and <a href=\"https:\/\/youtu.be\/oLp0hT3Kxlw\" target=\"_blank\" rel=\"noopener\"><strong>via YouTube<\/strong><\/a>. Disclosure of the cross-connections between Hive5 and Juozas Rup\u0161ys.<\/p>\r\n<h3>Credon Website Goes Offline!<\/h3>\r\n<p><strong>09.05.2023: <\/strong>Credon&#8217;s website (credon.com) is offline (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Webseite-Offline-.png\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<p>???? The message: &#8220;Frontend disabled, access denied!&#8221;<\/p>\r\n<h3>Opening of Insolvency Proceedings Against Credon<\/h3>\r\n<p><strong>26.05.2023:<\/strong> Because Credon&#8217;s authorised representatives did not comply with the requests of the Croatian Commercial Court, Credon was classified as insolvent and insolvency proceedings were opened. In addition, Credon was ordered to be deleted from the court register as soon as the corresponding order becomes legally binding (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-P2P-Insolvenzverfahren.pdf\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<h3>Total Chaos at Credon!<\/h3>\r\n<p><strong>31.05.2023:<\/strong>\u00a0Investors receive a message from the sender &#8220;Cred On&#8221; (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen-.png\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>) via the e-mail address &#8220;credon2020@gmail.com&#8221;.<\/p>\r\n<p>???? The platform uses a different name and a new g-mail address as the supposed sender.<\/p>\r\n<p>???? The platform cites maintenance work on the platform&#8217;s software as the reason why no money could be withdrawn from Credon since the beginning of 2023.<\/p>\r\n<p>???? The platform offers to transfer investors&#8217; money via the shareholder&#8217;s private account. The Credon account has therefore either been blocked or there are no more funds in this account.<\/p>\r\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen-.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17041 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen-.png\" alt=\"\" width=\"1917\" height=\"428\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen-.png 1917w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--300x67.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--1024x229.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--768x171.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--1536x343.png 1536w\" data-sizes=\"(max-width: 1917px) 100vw, 1917px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1917px; --smush-placeholder-aspect-ratio: 1917\/428;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-17041\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen-.png\" alt=\"\" width=\"1917\" height=\"428\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen-.png 1917w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--300x67.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--1024x229.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--768x171.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Credon-Erfahrungen-Email-Ruckzahlungen--1536x343.png 1536w\" sizes=\"(max-width: 1917px) 100vw, 1917px\" \/><\/noscript><\/a><\/p>\r\n<p><strong>16.06.2023: <\/strong>The credon.com website is back online. The following text appears on the main page (<a href=\"https:\/\/web.archive.org\/web\/20230617081315\/https:\/\/www.credon.com\/\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>):<\/p>\r\n<blockquote>\r\n<p><em>\u201eThe CREDON platform is working on updating and improving the software system to provide a better and more convenient service for our customers and partners, so now the Credon platform does not register new users and does not accept investments.\u201c\u00a0<\/em><\/p>\r\n<\/blockquote>\r\n<p>????\u00a0Due to maintenance work on the software system, new users can no longer register on Credon. In addition, bank transfers are no longer accepted.<\/p>\r\n<p><strong>01.07.2023: <\/strong>On the website, the following text is highlighted in red (<a href=\"https:\/\/web.archive.org\/web\/20230701155416\/https:\/\/credon.com\/\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>):<\/p>\r\n<blockquote>\r\n<p><em>\u201ePlease contact us at credon2020@gmail.com and provide information regarding the balance of funds that you have transferred through the credon.com platform and that has not been returned to you yet.\u201c\u00a0<\/em><\/p>\r\n<\/blockquote>\r\n<p>???? Credon no longer seems to ba aware which funds the platform actually manages.<\/p>\r\n<p>???? Existing investors can no longer log-in to the website to check their account balance.<\/p>\r\n<p>???? In the footer, the email address changes from &#8220;info@credon.com&#8221; to &#8220;credon2020@gmail.com&#8221;. Credon seems to have lost access to the emails, despite the domain still being available.<\/p>\r\n<h3>Hive5 Lawyer Threatens with Legal Actions<\/h3>\r\n<p><strong>03.07.2023: <\/strong>Statements in the <a href=\"https:\/\/rethink-p2p.de\/en\/hive5-review\/\" target=\"_blank\" rel=\"noopener\"><strong>Hive5 review<\/strong><\/a> that point to the entanglements between Juozas Rup\u0161ys, Credon and Hive5 are being tried to be removed with the help of a lawyer (<a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/Hive5-Marketplace-Klage-rethink-P2P-Kredite.pdf\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<p>????\u00a0Hive5 is trying to remove critical statements of opinion that are related to Juozas Rup\u0161ys and Credon.<\/p>\r\n<h3>Websites of All Credon Lenders are Offline!<\/h3>\r\n<p><strong>14.07.2023:<\/strong> The websites of all three Credon lenders are offline and can no longer be reached via the internet. This reinforces the suspicion that the lenders were primarily created to collect money for the Credon platform, without any serious intentions regarding loan financing.<\/p>\r\n<p>???? The websites of all Credon lenders (Pozyczka Pieniedzy, Super Pozyczka and Sando Investment) are offline!<\/p>\r\n<h3>Juozas Rupsys Threatens with Legal Action<\/h3>\r\n<p><strong>26.07.2023:<\/strong> Credon UBO Juozas Rupsys has sent me an email regarding my published videos on Credon. He claims that my content would spread &#8220;false and untrue&#8221; information. He also criticises me for not having contacted him to comment on the allegations. Finally, he demands that I delete my video about Credon within 24 hours, otherwise he would take legal action against me.<\/p>\r\n<p>In response, I made him two offers. First: If he informs me of what he considers to be &#8220;wrong&#8221; information, I will check it again and then correct it if necessary. Secondly: He can speak and explain himself in a recorded interview about the accusations.<\/p>\r\n<p>To date, Juozas Rupsys has not responded to my email.<\/p>\r\n<p>???? Credon UBO Juozas Rupsys threatens me with legal action via email if the fact-based and source-supported information about Credon is not removed.<\/p>\r\n<p>???? Juozas Rupsys refuses the offer to comment on the allegations in a public discourse.<\/p>\r\n<h3>YouTube Deletes Videos on Credon and Hive5<\/h3>\r\n<p><strong>27.07.2023:<\/strong> Due to anonymous privacy complaints, YouTube has removed the following two videos from my channel &#8220;Has this P2P platform lost its mind? \u274c Lawyer sends me mail!&#8221; (6,200 views until blocked) and &#8220;Scam or badly made P2P platform? \u274c Credon analysis! \u274c What role does Hive5 play?&#8221; (2,200 views until blocked). The deletion took place in 26, respectively 28 hours after the complaint was filed. YouTube did not communicate any reasons as to why and which content had violated data protection. To date, the video platform has not responded to the appeal.<\/p>\r\n<h3>Ex-Credon CEO Speaks Out!<\/h3>\r\n<p><strong>29.07.2023:<\/strong> Ex-Credon CEO Julia Wyzewska has spoken out in an interview about the events during her time at Credon. In our conversation, she talks about what happened behind the scenes at Credon, Juozas Rupsys, why she has not received any salary to date (approx. EUR 30,000), contact with lenders and whether she believes Credon tried to run a serious company (<a href=\"https:\/\/youtu.be\/KolvEdWEr3M\" target=\"_blank\" rel=\"noopener\"><strong>source<\/strong><\/a>).<\/p>\r\n<p><iframe loading=\"lazy\" title=\"EX CREDON CEO Speaks Out! \u274c Behind The Scenes \u274c Juozas Rupsys \u274c Unpaid Salary \u274c Scam Attempt?\" width=\"810\" height=\"456\" data-src=\"https:\/\/www.youtube.com\/embed\/KolvEdWEr3M?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\r\n<p><strong>To Be Continued&#8230;<\/strong><\/p>\r\n<hr \/>\r\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<p>Here are the most important findings of my Credon investigations to date:<\/p>\r\n<ul>\r\n<li>Juozas Rup\u0161ys co-founded both the Latvian SIA Credon and the Croatian Credon P2P d.o.o. He owns both companies through his Lithuanian parent company, UAB, HST KOMUNIKACIJOS.<\/li>\r\n<li>Credon manipulated investors with misleading and false information regarding the obtaining of licences and the regulation of the P2P platform.<\/li>\r\n<li>Due to the lack of statistics, there is no insight as to how much money has been invested with Credon and how high the potential loss for investors is.<\/li>\r\n<li>According to the Croatian court, Credon owes its ex-CEO Julia Wy\u017cewska the equivalent of EUR 28,000 in salary payments.<\/li>\r\n<li>Insolvency proceedings have been initiated against Credon due to continuing liabilities.<\/li>\r\n<li>Hive5 is using legal threats, trying to stop investigations on Juozas Rup\u0161ys and his connections to the Hive5 P2P platform.<\/li>\r\n<li>The websites of all three Credon lenders are offline.<\/li>\r\n<li>Juozas Rup\u0161ys threatens me via email with legal actions if I don&#8217;t remove my YouTube video about Credon within 24 hours.<\/li>\r\n<li>Juozas Rup\u0161ys turned down my offer to publicly speak about the allegations regarding Credon.<\/li>\r\n<\/ul>\r\n<hr \/>\r\n<h2><span class=\"ez-toc-section\" id=\"FAQ_Credon_Review\"><\/span>FAQ Credon Review<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n<div class=\"schema-faq wp-block-yoast-faq-block\">\r\n<div id=\"faq-question-1774954552613\" class=\"schema-faq-section\"><strong class=\"schema-faq-question\">\u2705 What is Credon?<\/strong>\r\n<p class=\"schema-faq-answer\">Credon is a P2P marketplace incorporated in Croatia where investors could invest in Polish and Lithuanian consumer loans. Since May 2023, the platform has been in insolvency proceedings. The website has been largely offline since then.<\/p>\r\n<\/div>\r\n<div id=\"faq-question-1774954553980\" class=\"schema-faq-section\"><strong class=\"schema-faq-question\"><strong>\u2705 Who owns Credon?<\/strong><\/strong>\r\n<p class=\"schema-faq-answer\">Credon is owned by Lithuanian businessman Juozas Rup\u0161ys through his Lithuanian parent company UAB HST KOMUNIKACIJOS, in which he holds 100% of shares. He is also co-founder of IT service provider creditonline.eu and has close ties to the Croatian P2P platform Hive5.<\/p>\r\n<\/div>\r\n<div id=\"faq-question-1774954554627\" class=\"schema-faq-section\"><strong class=\"schema-faq-question\">\u2705 What happened to investor funds at Credon?<\/strong>\r\n<p class=\"schema-faq-answer\">Since early 2023, investors have been unable to withdraw funds from the platform. Insolvency proceedings were opened in May 2023. Due to a lack of published statistics, there is still no overview of how much investor money was tied up or the total losses incurred.<\/p>\r\n<\/div>\r\n<div id=\"faq-question-1774954555268\" class=\"schema-faq-section\"><strong class=\"schema-faq-question\">\u2705 What is the connection between Credon and Hive5?<\/strong>\r\n<p class=\"schema-faq-answer\">Hive5 uses the IT infrastructure of creditonline.eu, the company of Juozas Rup\u0161ys. Furthermore, Rup\u0161ys is the godfather of Hive Finance majority shareholder Andrius Rup\u0161ys. Hive5 attempted to suppress reporting on these connections through legal means and had two of my YouTube videos removed.<\/p>\r\n<\/div>\r\n<div id=\"faq-question-1774954556875\" class=\"schema-faq-section\"><strong class=\"schema-faq-question\">\u2705 Should I invest in Credon or Hive5?<\/strong>\r\n<p class=\"schema-faq-answer\">No. Credon is in insolvency proceedings. I also strongly advise against investing in Hive5, as the connections to Credon and the platform&#8217;s business practices raise serious doubts about its legitimacy. Better alternatives can be found in my P2P platform reviews.<\/p>\r\n<\/div>\r\n<\/div>\r\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":17130,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"template-centered.php","meta":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Credon Review 2026: Inactive Scam-Platform!<\/title>\n<meta name=\"description\" content=\"Credon Review 2026: Inactive Scam-Platform! All details and background information on the dodgy Credon platform from Croatia!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rethink-p2p.de\/en\/credon-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credon Review 2026: Inactive Scam-Platform!\" \/>\n<meta property=\"og:description\" content=\"Credon Review 2026: Inactive Scam-Platform! All details and background information on the dodgy Credon platform from Croatia!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rethink-p2p.de\/en\/credon-review\/\" \/>\n<meta property=\"og:site_name\" content=\"re:think P2P\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/fb.me\/rethinkp2p\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-28T15:40:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/07\/CREDON-P2P-REVIEW.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\/\/rethink-p2p.de\/en\/credon-review\/\",\"url\":\"https:\/\/rethink-p2p.de\/en\/credon-review\/\",\"name\":\"Credon Review 2026: Inactive Scam-Platform!\",\"isPartOf\":{\"@id\":\"https:\/\/rethink-p2p.de\/en\/#website\"},\"datePublished\":\"2023-07-10T04:00:00+00:00\",\"dateModified\":\"2026-09-28T15:40:06+00:00\",\"description\":\"Credon Review 2026: Inactive Scam-Platform! 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Since May 2023, the platform has been in insolvency proceedings. The website has been largely offline since then.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954553980","position":2,"url":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954553980","name":"\u2705 Who owns Credon?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Credon is owned by Lithuanian businessman Juozas Rup\u0161ys through his Lithuanian parent company UAB HST KOMUNIKACIJOS, in which he holds 100% of shares. He is also co-founder of IT service provider creditonline.eu and has close ties to the Croatian P2P platform Hive5.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954554627","position":3,"url":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954554627","name":"\u2705 What happened to investor funds at Credon?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Since early 2023, investors have been unable to withdraw funds from the platform. Insolvency proceedings were opened in May 2023. Due to a lack of published statistics, there is still no overview of how much investor money was tied up or the total losses incurred.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954555268","position":4,"url":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954555268","name":"\u2705 What is the connection between Credon and Hive5?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Hive5 uses the IT infrastructure of creditonline.eu, the company of Juozas Rup\u0161ys. Furthermore, Rup\u0161ys is the godfather of Hive Finance majority shareholder Andrius Rup\u0161ys. Hive5 attempted to suppress reporting on these connections through legal means and had two of my YouTube videos removed.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954556875","position":5,"url":"https:\/\/rethink-p2p.de\/en\/credon-review\/#faq-question-1774954556875","name":"\u2705 Should I invest in Credon or Hive5?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"No. Credon is in insolvency proceedings. I also strongly advise against investing in Hive5, as the connections to Credon and the platform's business practices raise serious doubts about its legitimacy. Better alternatives can be found in my P2P platform reviews.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/pages\/17125"}],"collection":[{"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/comments?post=17125"}],"version-history":[{"count":25,"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/pages\/17125\/revisions"}],"predecessor-version":[{"id":37200,"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/pages\/17125\/revisions\/37200"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/media\/17130"}],"wp:attachment":[{"href":"https:\/\/rethink-p2p.de\/en\/wp-json\/wp\/v2\/media?parent=17125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}