Scam of 300 million USD, “Bitcoin king” has just been arrested

Bitcoin island fire boss has just been arrested.

Self-proclaimed “Bitcoin king”, Claudio Oliveira used many scams to appropriate more than 300 million USD from investors.

Artifacts obtained from Claudio Oliveira’s private home

According to an announcement from the city government of Curitiba, Brazil, the police have just issued an urgent arrest warrant for super cheater Claudio Oliveira (president of Bitcoin Banco Group) and related accomplices. Using a multi-level fraud method (the script takes the latter to pay the first), Claudio Oliveira masterminded the appropriation of 1.5 billion BRL (about 300 million USD).

According to an indictment from 2019, Oliveira’s Bitcoin Banco Group blocked investor withdrawals on the grounds that the company was hacked. However, some time later, Bitcoin Banco Group still did not offer any measures to satisfactorily settle investors. Not only that, this company also continues to promote more widely to attract and entice new players with super profitable contracts.

Brazilian courts say they have received more than 200 lawsuits from investors large and small. The total number of people suffering from Bitcoin Banco Group could reach more than 20,000 people. After his arrest, Claudio Oliveira was charged with 22 different counts and will face the appropriate punishment.

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