AP: Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'
With so many alleged pyramid schemes, Cabo Frio came to be known as the “New Egypt,” and as the town’s top dog, dos Santos was dubbed the “Bitcoin Pharaoh."
Source: wwltv.com
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27,000 victims found in Brazil ponzi scheme
After the initial scheme's success, copycat schemers started opening shop; cryptocurrency-related violence broke out in the streets.
Source: abc10.com
Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'
CABO FRIO, Brazil (AP) — In April, Brazil's federal police stormed the helipad of a boutique seaside hotel in Rio de Janeiro state, where they busted two men and a woman loading a chopper with 7 million reais ($1.3 million) in neatly packed bills.
Source: apnews.com
Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'
WBAL Radio 1090 AM - Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'
Source: wbal.com
Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'
In April, Brazil's federal police stormed the helipad of a boutique seaside hotel in Rio de Janeiro state, where they busted two men and a woman loading a chopper with 7 million reais ($1.3 million) in neatly packed bills.
Source: startribune.com