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Brazil s bitcoin king arrested in a R4.2 billion embezzlement case Jul 07, 2021, 06:23 AM
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Police in the Brazilian state of Parana have arrested several people for their alleged involvement in a bitcoin scam.
A self-proclaimed bitcoin king was among those arrested over the scheme after a three-year investigation.
The alleged scam harmed thousands of customers of a crypto brokerage firm, police said.
A self-proclaimed bitcoin king in Brazil is among those arrested by police in a case accusing the group of running an embezzlement scheme worth the equivalent of R4.2 billion.
The arrests follow a three-year investigation in the southern Brazilian state of Parana that was conducted by 90 federal officers. Police outlined the case in a press conference, including the arrest of Claudio Oliveira, the so-called Bitcoin King who was the alleged ringleader in the theft of 1.5 billion Brazil reais from inv