Havelock Investments notified Neo & Bee (NEOBEE) holders to day that trading had been halted due to “an increase of abnormal activity” on the LMB share platform. (LMB Holdings is Neo & Bee’s parent company.) The notification was sent via email, and has yet to be posted to Havelock’s website. Neo & Bee has been marketed as the first “bitcoin bank,” and is currently in the process of opening several branches in Cyprus. Havelock is one of a handful of bitcoin-based stock exchanges.
The Havelock message to NEOBEE investors reads:
Havelock Investments has been formally informed by the Pass-Through Fund Manager of NEOBEE that the compliance officer of Neo and Bee Ltd has stated that due to an increase of abnormal activity on the LMB share platform, there may be a high possibility of questionable trading activity. While Neo and Bee Ltd investigate the issue further they have strongly recommended that we halt trading and transfers.
Havelock Investments has halted the NEOBEE fund and is awaiting further instructions from the issuer.
No other details were available, although posts on the Neo & Bee Reddit claim fund managers ThickAsThieves also terminated their contract with NEOBEE earlier today after Neo managers suggested the trading halt.
NEOBEE stocks have been falling in recent weeks, although there was no indication of major issues with the price, the fund management or Havelock until today’s notification.