The United States Department of Justice (DOJ) says it has seized cryptocurrencies worth $24 million after receiving an official request from the government of Brazil. The seizure stems from an ongoing investigation into the $200 million cryptocurrency scam that may have defrauded tens of thousands of Brazilians. The authorities in Brazil say the scammers duped people by typically promising exaggerated returns and falsifying where the funds were invested.

Criminal violations

In a statement, the DOJ says the U.S. acceded to Brazil’s request in line with the cooperation treaty signed between the two countries with respect to “Mutual Legal Assistance in Criminal Matters.”

Meanwhile, according to the DOJ statement, “the U.S. seizures were tied to Brazilian Marcos Antonio Fagundes’ alleged role in the scheme.” Fagundes and several unnamed accomplices have been “charged with several criminal violations of Brazilian law, including, among other offences, the operation of a financial institution…

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Source: https://news.bitcoin.com/200-million-brazilian-crypto-fraud-scam-the-us-seizes-24-million-worth-of-digital-currencies/