RATE Group | Brazil under attack from multiple cryptocurrency scams
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Brazil under attack from multiple cryptocurrency scams

02 Nov Brazil under attack from multiple cryptocurrency scams

Posted at 17:26h in Cryptocurrency News by

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As reported last week by the Brazilian TV news channel Record, Brazil seems to be under attack from multiple cryptocurrency scams.

In the news piece, the team investigated a company that has faced allegations of being a financial pyramid scheme.

The report also focused on several investors who lost everything in fraudulent companies after being tempted in by the promise of easy money.

Brazil is facing a wave of scams

Victim testimonials given to Record about financial pyramids show a tendency to focus on cryptocurrencies like Bitcoin. Presenter Eduardo Ribeiro points out that this relationship between cryptocurrencies and financial pyramids is a result of the “age of technology”.

One interview highlights an investor who bought Bitcoins to invest in the HPX platform. However, when the man tried to withdraw his funds, he could not complete the process.

According to the piece, HPX’s business served to illustrate cases of financial pyramids occurring in Brazil. It pointed out that up…

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