US Justice Department seizes $ 24 million in crypto
The funds are related to a scam perpetrated in Brazil which is estimated to have capitalized around US $ 200 million from the victims
The US Department of Justice (DOJ) has reported the seizure of some US $ 24 million in crypto related to a scam that capitalized around US $ 200 million affecting numerous citizens residing in Brazil on a large scale.
According to the official document, the seizure took place after the Brazilian authorities requested the cooperation of the US agency, after the police of the South American country carried out an exhaustive monitoring of the scammers in a procedure called “Operation Egypt.”
The DOJ also reported that the funds will be kept in the custody of the US authorities, urging them to take control of them in order to avoid inconvenience.
Regarding the modus operandi handled by the scammers, the DOJ detailed: “Fagundes and other defendants requested funds from potential investors through the Internet… phone calls and other means. Said requests, referred to as an innovative investment opportunity, were capitalized in Brazilian reais and cryptocurrencies … the defendants made false promises about the management of the funds, offering unrealistic rates of return.”
Normally, when an asset captures the interest of potential investors, scams tend to arise around it, which gain much more traction to the extent that it has a better commercial performance.
K.Villarroel
Source: diariobitcoin
