Good day everyone,
I hope you are all well and had an excellent week, welcome to CryptoGod-1’s blog on all things crypto. Today I will be looking at a recent good bit of news in the crypto space in terms of a number of scammers who have been caught thanks to nothing more than their own foolishness.
CCTV Catches Crypto Scammers
A Brazilian company at the centre of crypto scam allegations has seemingly had its employees caught out thanks to CCTV while they were on their way to try and remove evidence. The company, known as Braiscompany, had their offices shuttered as part of a police investigation. However, CCTV footage shows that at least two people entered the building since. Within the video, a man can be seen removing a barrier which allows the driver of a pickup truck to enter the Braiscompany premises in São Paulo.
The timestamp on the video shows the incident occurred on the 26th of March at around 9pm local time, where the individuals went ahead and removed items from the building. The offices are now reportedly completely empty and it has been claimed that the individuals’ apparent familiarity with the site would indicate that they were employees.
Braiscompany was a nationwide business, launched in 2019, which promised investors a fixed income from the cryptocurrency market. It was established by a couple known as Antônio and Fabrícia Ais. In late 2022 the problems began as a number of investors began to complain that they were unable to withdraw their funds from the platform. The company has been defended by many 'brokers' who claim it is far from the scam people are claiming it to be. However, with its headquarters now closed it would seem the business is finished for good.
Many critics have claimed the business was only a front for a 'financial pyramid' or a Ponzi scheme, and multiple legal cases have been launched from clients of the business. They are hoping to recoup their funds although as the media continues to report that the company is vacating its properties, things are looking bleak.
Below is the video of the people breaking into the firms main office to remove its contents.
Previous Crypto Sex-Tortion Ring in Brazil
The latest efforts by law enforcement follows on after the police in Brazil discovered what they called a sex-themed crypto extortion ring. Within this crazed organisation victims were being blackmailed into handing over their crypto tokens. It was reported by the Brazilian media outlet Livecoins, which noted that the police had undertaken a special mission named "Operation Sextorsion" and was carried out by the Civil Police in Patos de Minas, Minas Gerais earlier in March 2023. Within the operation three unnamed suspects, all who are believed to be part of a criminal organisation, were arrested after warrants were issued by the Civil Police of the Federal District.
The officers claimed the ring had created fake profiles of non-existent women upon a variety of dating apps. These dating profiles were operated to approach men on the platforms, although sometimes women were also targeted. They would chat with the victims for awhile and then request intimate photos and videos from them. Once they received the videos, the ring’s members allegedly threatened to expose these photos and videos to the public unless they received payment in the form of crypto, or though the use of the Central Bank’s PIX instant payment platform.
It was apparently a 68 year old individual who informed the police of these ongoings, after stating they had fallen victim to the crime. Officers then began a series of “search and seizure” raids in Patos de Minas area before arresting two men, aged 24 and 31 years old, along with a 27 year old female. The trio are under investigation on suspicion of violating laws on organised crime, identity fraud, extortion, and money laundering. Each could face a maximum of 29 years behind bars if they are found guilty of these crimes.
New Laws and Crypto Confiscation Power
All of this came about after the Brazilian government decided to grant the nation’s prosecutors, courts, and police officers new powers to confiscate crypto. This was done to allow the nation to any crime involving the use of cryptocurrencies could see the crypto taken away if caught by the police This is a strong power to give officials, and while it is of course a beneficial thing to do in terms of fighting crime, there should also be a fear of how a corrupt official, member of law enforcement, or even the government itself could abuse these laws.
On top of this, in late 2022 the government established a crypto 'working group' which was comprised of lawyers and prosecutors. The aim of the group is to draft proposals for legal reform regarding crypto within the nation.
Certainly some interesting things happening of late in Brazil, and while it is always good to crack down on crime, there needs to be a fine balance in terms of what power those in charge are given.
Have a great day.
Peace. CryptoGod-1.
** I first posted this story on Medium on the 7th of April 2023, which can be found here: https://medium.com/@1r3n9project/brazilian-crypto-scam-workers-caught-on-cctv-9408c222b441?sk=a6ac51ab1a21c656af264bf3a560f43f **
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