Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'


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    Three months later another firm´s operator was targeted, his car hit by 40 bullets; he also survived. Rio state police have also linked two attempted killings to dos Santos and what they called his “extermination team.” On March 20, a trader known as Nilsinho was shot while driving his BMW through Cabo Frio.

    He was severely injured but survived.

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    (AP Photo/Bruna Prado)” class=”blkBorder img-share” style=”max-width:100%” />

    Bathers dive into the waters of Fort Beach in Cabo Frio, Brazil, Wednesday, Dec.

    15, 2021. Brazil became one of the first countries in the world to approve Bitcoin exchange-traded funds, second only to Canada.

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    The chubby young man in thick-rimmed glasses was also gaining a taste for the high life, police and prosecutors said.

    Dos Santos bought expensive jewelry and a swanky apartment as contracts poured in from elsewhere in Latin America and as far away as the U.S., Europe and the Gulf.

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    The exchange owners can use this for a variety of things and earn profits, and in exchange, the customers will earn rewards and interest for retaining their cryptocurrency.

    Police say dos Santos began trading in Bitcoin after leaving his job as a waiter in 2014.

    A one-time evangelical preacher in training, he enlisted clients from the Universal Church of the Kingdom of God, Brazil´s largest neo-Pentecostal group, who earned a referral fee for bringing in fresh recruits and kicking back money to G.A.S., police documents say.

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