On April 30, 2025, Brazil’s Federal Police launched Operation Fantasos, targeting the Trade Coin Club, an international pyramid scheme that defrauded over 100,000 investors out of R$1.6 billion. The operation seized luxury assets, including cars and yachts, and arrested mastermind Douver Torres Braga, extradited from Switzerland to the U.S. The scheme, operating as a multilevel marketing program, falsely promised profits from a non-existent cryptocurrency trading robot. Investigations revealed it was a classic Ponzi scheme. The case underscores the need for financial education and regulatory improvements in the crypto market and highlights the importance of international cooperation in tackling financial fraud.
Federal Police dismantle R$1.6 billion pyramid scheme with luxury cars and yachts seized in global operation
