In a dramatic unfolding of events, Brazil’s law enforcement set their sights on Braiscompany, a suspected crypto pyramid whose owners are believed to have fled the country, carrying with them a staggering sum of approximately $160 million of their clients’ capital. The firm, seemingly a victim of their own success, had grown popular during the pandemic, promoting itself as a crypto “brokerage.” In a scheme eerily reminiscent of a pyramid, they promised investors monthly returns of up to 8% for cash or Bitcoin deposits on their platform.
The enticement didn’t end there. Braiscompany encouraged its “members” to bring others onboard, promising heftier returns for roping in acquaintances, friends, or family. Things took a turn for the worse last December as investors struggled to extract their funds from the platform, stoking suspicion and eliciting concern. Seemingly confirming their worst fears, Braiscompany’s proprietors reportedly disappeared with several executives early 2023.
In an operation fittingly codenamed “Operation Halving,” which began this year, law enforcers took robust action against the firm. The police, in collaboration with the Federal Public Ministry, seized roughly $28.7 million in assets during raids on addresses tied to the firm in São Paulo and Aracaju. Disturbingly, the police identified Braiscompany-affiliated “brokers,” who played the role of “commercial representatives,” actively hunting for more “victims for the scheme.”
With the infamous firm’s founding couple Antônio Neto Ais and Fabrícia Campos still at large and landing themselves on Interpol’s red list, the eyes of law enforcement worldwide are peeled. The couple is now the subject of an international call to detain any individuals on the said list, putting a global spotlight on this high-profile crypto crime.
Despite this recent crackdown, the police are yet to confirm if they’ve made additional arrests following the raids. Earlier this month, they managed to dismantle two crypto-empowered money laundering loops, making successive arrests in four Brazilian states, signaling that Brazil’s law enforcement isn’t backing down.
The saga surrounding Braiscompany remains a sobering reminder of the dual-edged sword that is the crypto world. While it brings unprecedented opportunities and financial freedom, it isn’t immune to nefarious actors who can exploit its unregulated aspects to their advantage, posing potential risks to unsuspecting investors. As blockchain advancements continue at a breakneck speed, ensuring the safety and security of crypto investors remains paramount.
Source: Cryptonews
