A Brazilian cryptocurrency crime cartel has been shut down after conning over 55,000 investors for over $200 million. The cartel ran an unlicensed financial institution without authorization from Brazil‘s Central Bank. The scammers claimed to offer cryptocurrency investments and promised investors 15-percent returns on their capital, local news Correio Do Povo reports. The Federal Revenue Service said the company had managed to raise around R$850 million ($210 million) by February 2019 from would-be investors. Authorities believe the number could actually be closer to R$1 billion ($248 million), though. The illegal operation has since been dismantled following a joint operation between…
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55,000 Brazilians scammed out of 0M+ worth of fake cryptocurrency
Source: The Next Web
