The SEC accuses 17 people of creating a $300 million crypto pyramid scheme.

Oh my God! I just found out about another gigantic scandal in the crypto world. The SEC has pointed out 17 scoundrels for setting up a pyramid called CryptoFX that scammed more than $300 million. And the worst part is that they specifically took advantage of the Hispanic community, it makes me so angry!

These vultures managed to deceive more than 40,000 people, not only in the United States but in two other countries as well. It boils my blood when I think about how they used those false promises of "financial freedom" and "life-changing wealth" to trap hard-working people.

And do you know what they offered? "Risk-free" and "guaranteed" investments in cryptocurrencies with returns of 15% to 100%. Come on! Who believes that? But of course, when the hunger for easy money clouds judgment...

As with any pyramid scheme, the money from new investors was used to pay the old ones and maintain the facade. Meanwhile, the ringleaders bought a million-dollar house in Texas. What a nerve!

The most outrageous thing is that although the SEC had already reported the main organizers, Mauricio Chavez and Giorgio Benvenuto, in 2022, two other accomplices —Gabriel and Dulce Ochoa— continued to raise funds. These financial predators have no limits.

And this is not an isolated case. Recently, the founder of HyperFund was also caught for fraud. The crypto world is full of opportunities, but also of sharks waiting to devour the savings of the unwary.

#HotTrends #BTC #DOGE #ETFbitcoin‬ #ETH

Disappointed but not surprised, LRCO