Self-claimed Bitcoin King arrested for allegedly duping investors off $250 million worth of Bitcoin
India Today
Bringing the investigation against Bitcoin Banco Group to a conclusion, Brazilian authorities have arrested the president of the crypto brokerage firm that now faces several charges, including those of bankruptcy crimes and embezzlement.
Brazilian authorities have reported the arrest of a man infamously known as ‘The Bitcoin King.’ The arrest was conducted on charges of fraud that duped people of 7,000 bitcoins, worth around $250 million today. Named Claudio Oliveira, the self-proclaimed Bitcoin King served as the president of Bitcoin Banco Group, a crypto brokerage firm in Brazil. The firm promised high returns for those who invested their bitcoin holdings with it.More Related News