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Writer's pictureFahad H

Crypto and Blockchain News From Brazil: Oct. 6-12 in Review


The story of Brazil’s crypto scams took a brand new twist over the previous week as CEO of an alleged pyramid scheme reportedly fled the nation after rejecting court docket deadlines.

Here is the previous week of crypto and blockchain information in evaluate, as initially reported by Cointelegraph Brasil.

Banco Original sponsors a crypto-related occasion

Brazil’s Banco Original was the principal sponsor of the Expo Boa Chance, a significant fintech convention bringing collectively monetary establishments, multilevel advertising and cryptocurrency-related corporations, Cointelegraph Brasil reported on Oct. 6. Held at Expo Dom Pedro in Campinas, the occasion reportedly hosted greater than 20,000 entrepreneurs.

According to Cointelegraph Brasil, numerous crypto-related firms on the occasion corresponding to B2Ccoin and DD Corporation will not be approved by Brazil’s Securities and Exchange Commission (CVM) to function within the nation. Moreover, a number of the firms are alleged to be concerned in monetary pyramid schemes, the report notes.

Unick Forex reimburses a buyer as ordered by court docket

On Oct. 9, purported funding scheme Unick Forex executed a court docket order to reimburse one among its shoppers. Beforehand, the corporate issued a public assertion claiming that they might solely reimburse these clients who had obtained their fee vouchers.

As beforehand reported, the Sao Paulo Court of Justice ordered a block on Unick Forex-managed property final week, following a lawsuit about delay withdrawals from the platform. The court docket ultimately ordered Unick Forex to pay $28,500 to a shopper who filed a grievance in opposition to the corporate.

Previously, Unick Forex’s president argued that the corporate just isn’t an funding platform, however moderately an education-focused platform.

Atlas Quantum’s CEO flees Brazil

The CEO of Brazillian funding startup and alleged pyramid scheme Atlas Quantum has reportedly left Brazil for Netherlands, as reported on Oct. 10. According to Cointelegraph Brasil, the agency’s CEO Rodrigo Marques fled the nation together with his household shortly after a public listening to earlier than the House of Representatives, dismissing the safety employees that used to accompany him all over the place.

Meanwhile, Atlas Quantum’s customer support denied the information to Cointelegraph, claiming that Marques was in Sao Paulo making an attempt to work out overdue withdrawals points on the platform. Following an info request, the Federal Police of Brazil reportedly stated that Marques is free to cross borders as there isn’t any conviction or any court docket order stopping him from doing so.

As reported in mid-September, Atlas Quantum rejected court docket deadlines to resolve its delayed Bitcoin (BTC) withdrawals on its platform. On Sept. 17, the Federal Court of Brazil dominated that the alternate’s actions could represent a monetary pyramid and ordered to instantly freeze the corporate’s property. On Oct. 2, main crypto alternate HitBTC denied allegations that it was concerned in freezing Atlas Quantum’s funds, claiming that the offered proof was solid.


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