Federal police officers in Brazil have performed search-and-seize raids at 15 firms in two states in a bid to break up a suspected crypto-themed “pyramid scheme.”
Per Agência Brasil, the country’s national public news agency, officers swooped on 15 unnamed companies based in the states of Santa Catarina and São Paulo on September 27.
The Federal Police Force (known locally as the PF) claimed that the firms were active “between 2017 and 2020” and said that the companies had “attracted clients” to make “investments in cryptoassets and other businesses” – promising these clients “profits beyond those that exist on the market.”
Like many crypto scams, the pyramid appears to have made promises about “guaranteed” monthly gains.
The PF said that its agents seized a variety of items during their searches, including expensive watches, laptop computers, passports, jewelry, cell phones, and firearms.
Officers said that “more than 400 people” may have lost their money in the alleged scam – and...
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