Bitcoin fraud worth $ 359M caught by the Brazil Police

The Brazilian police have found what is said to be an alleged Bitcoins fraud that stole $ 359M from the sufferers. "The Brazillian state police have been able to counter the anonymous operation and have caught 9 criminals," says the Parana state government in a statement. "Growing concern in crypto-currency businesses has been followed by an increase of scams,” the report states. “The absence of supervision and attention along with large levels of distraction, unfamiliarity, cross-perimeter activities, and other characteristics crucial to the cryptocurrency business reveals possible dangers to the users," says Brazilian Congressman Aureo Ribeiro.
The 4 months inquiry exposed five hundred personalities from over 6 states that have fallen prey to the Bitcoin grant fraud. However, the figures could go up to 5000 persons. “It was obvious that the plan was a fraud when the victims got a notification from the organization, informing the users that the investors would not be able to debit their money for 6 months,” says the Parana state government's statement.

The company responded to the situation by saying it too had suffered a scam estimating $5 million. But the investors' withdrawal money was delayed even after 6 months passed, and that's how the company was caught red-handed.' According to one of the victims, a fraud had promised everyday returns up to 4% on investments. The people arrested for the theft are accused of money laundering, scam, counterfeit and unlawful connection.  Cryptocurrency Frauds happened recently- Sadly, it is not the first instance when people have fallen prey to the cryptocurrency scam. "In May, a cryptocurrency fraud gang had was locked down for theft of $200M from over 50,000 victims," reports Hard Fork. Criminals pretended to give crypto-currency grants assuring people 15% of profits for their ..

Support the originator by clicking the read the rest link below.