Home News Mirror Trading International Bitcoin Ponzi scheme CEO arrested in Brazil

Mirror Trading International Bitcoin Ponzi scheme CEO arrested in Brazil

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The Brazilian military police have arrested the founder and CEO of the Mirror Trading International (MTI) Bitcoin (BTC) Ponzi scheme, Johann Steynberg, who was on the wanted list by Interpol and the FBI in 2019.

Thus, law enforcement officers began surveillance of the suspect immediately after receiving information about his presence in the city of Goiania.

He was found using forged documents and taken to the federal police department of the Brazilian state of Goias.

The organizers promised a monthly yield of at least 10%

According to the authorities, MTI deceived 170 thousand investors who entrusted the pyramid with at least 22,000 BTC (about $927 million at the exchange rate at the time of writing). The organizers promised a monthly yield of at least 10%.

In July 2021, the Brazilian Federal Police liquidated the Bitcoin Banco Group; the damage from whose actions for 7000 citizens exceeded $ 300 million. Its leader Claudio Oliveira, known as the “King of Bitcoin”, was arrested.

The investigation lasted three years. According to its results, the authorities collected enough evidence to arrest the property and detain the initiator of the criminal scheme. During the bull market of 2017, Bitcoin Banco Group promised customers “incredible profits.”

Financial pyramid schemes

In August, the agency seized a cryptocurrency worth 150 million Brazilian reais ($28.7 million); during the Kryptos operation related to an alleged financial pyramid scheme. Law enforcement officers arrested five people. In addition to digital assets, the police had $3.6 million in cash. They also had 21 premium cars and various decorations at their disposal.

According to investigators, the organizer of the criminal scheme was one of the detainees Glaidson Acacio. The owner of a consulting business in the field of digital assets in Rio de Janeiro offered clients a yield of up to 15% per annum.

Recall that in 2021, attackers targeting the cryptocurrency industry stole a record $14 billion, according to the analytical company Chainalysis. Analysts noted that in many ways, the development of the decentralized finance (DeFi) segment; and hype around it facilitated the growth of fraud in the crypto industry in 2021.

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