U.S. and Brazilian officials at a restaurant in Curitiba, Brazil. cryptocurrency launched an operation against the fraud network.
Authorities Crashed $768 Million Crypto Money Gang!
Authorities have cracked down on a crypto scam ring allegedly responsible for trading 4 billion reals ($768 million) by misleading investors about crypto products that turned out to be worthless.
The following statements were included in the press release issued by the US Immigration and Customs Enforcement (ICE):
“The U.S. investigation revealed that the agency in question deceived investors in multiple countries by claiming they were developing fully functional, state-of-the-art crypto-related financial products.
In reality, this organization is suspected of advertising fake partnerships and licenses used to trick its victims into investing millions of dollars in cryptocurrencies minted by suspects.
These cryptocurrencies eventually gained little or no value.”
In the ICE statement, it was stated that the scam crypto gang was led by a “37-year-old Brazilian citizen and a former US citizen”. Brazilian police named Francisley Valdevino da Silva the alleged leader of the crime ring, local news sources including G1 reported.
Brazil’s federal police said in a statement that the investigation showed the operation had deceived “thousands of victims” by offering services that promised monthly returns of up to 20% of the amount they invested.
Brazilian federal police have issued 20 search and seizure warrants as part of the investigation, known as Operation Poyais, according to a police statement. About 100 police officers, along with employees of the Central Bank of Brazil, were involved in issuing these search and seizure orders.
*Not investment advice.
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