Brazil’s police raided a cryptocurrency fraud of up to $ 360 million

After stealing 1.5 billion Brazilian reals (about $ 359 million), the Bitcoin Ponzi investment project in Brazil was destroyed by police. This is an anonymous organization in Sao Paulo, Curitiba, and some other cities. Like other cryptocurrency fraud, this project has promised 5,000 victims they can get high returns from Bitcoin investments.

The way to find the victims of scammers is through social media. After targeting, the scammers will make the victim send money and keep waiting for their investment increased 3-4% per day. However, victims are not allowed to withdraw, the police alleged, and their money disappeared.

After four months of investigation, the police filed a full report of fraud, money laundering, criminal association, and forgery against the group. This cryptocurrency fraud included nine individuals who committed the crime. However, it takes 50 officers, 20 vehicles, and a helicopter to kill these criminals.

In the past, there were also many cases of illegal use of Bitcoin. In 2018, the police broke up the $ 22 million siphoned funds from a prison budget and laundered them through the cryptocurrency.

brazilian-police-raided-a-cryptocurrency-fraud-of-up-to-360-million-usd

Brazil’s President, Jair Bolsonaro

Perhaps the Brazilian government is not a Bitcoin fan. President Jair Bolsonaro even criticized Bitcoin on national television in June. Meanwhile, former central bank chief, Ilan Goldfajn, compared Bitcoin to the pyramid scheme throughout his tenure.

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