Security· ★★★· bearish·

Brazil's Federal Police block $18M in crypto pyramid probe

  • —12 search warrants executed across five Brazilian states
  • —Court froze up to R$100 million on accounts of 15 people and 13 firms
  • —Promised returns ranged from 2–3% per day to 10–70% per month
  • —Police estimate more than 10,000 victims between 2018 and 2020
Why it matters: The case signals that Brazilian authorities are actively pursuing crypto pyramid schemes and underscores the risk of unrealistic return promises.
Source: Livecoins
More on this
Security · Oct 20
Onilx investors sue to recover funds as Brazil's federal police open probe
 Security · Sep 23
Brazil freezes $18M in crypto and assets in perfume smuggling probe
 Security · Oct 14
Greek police dismantle crypto pyramid scheme promising to double capital in 50 days