Argentinian ‘Crypto Scammers Used Unknown Actors to Dupe an Entire City’
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
Argentinian lawyers say that up to 20,000 people in San Pedro, Buenos Aires, have invested their money in a USDT-themed “bogus crypto project” promoted by little-known actors.
The lawyers say they represent some of the platform’s “victims.” They claim masterminds “promised to double” investors’ stake money “in six weeks.”
They claim the platform operators offered some investors “daily returns of between 1% and 2%, paid in US dollars.”
The San Pedro-based lawyer Adolfo Erdaire claimed at least 50 “victims” were set to file official complaints against a firm named Knight Consortium.
Per Ambito, Erdaire said that “many” of the city’s residents had “invested all their savings” in the “crypto exchange.” Their number includes several “retirees,” he added.
“Some people have not been able to withdraw money from the platform for three weeks. And because they have not been able to do so, they are worried. And that worry has now turned into fear.”
Pagina12 reported that the consortium said it was operating a crypto platform and token called “RainbowEx.”
The consortium claims to be “a foundation” comprising a “group of shareholders.” The group “supposedly operates in the stock market and attracts retail investors from around the world.” The media outlet noted:
“However, this firm is not registered. And does not have any legal endorsement, or even legal support.”
Media outlets said the first lawsuits would “reach the courts around Thursday and Friday of this week.”
The media outlets said the platform “began to gain popularity” in the city “four
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