Claim $500Brazilian Crypto Platform Halts Withdrawals, Scam Or Hack?
In a shocking revelation, a Brazilian crypto lending company announced halting of withdrawals due to an attack. A company representative of BlueBenx said the company suffered a hack worth $32 million. The company promised users of delivering high returns by investing in cryptocurrencies. This is leading to questions on whether the alleged Brazil crypto scam was real or not. The company had promised returns of up to 66% for their crypto investments.
BlueBenx Halts Withdrawals Over Alleged Hack
According to Brazilian news reports, the BlueBenx users do not believe in the company’s narrative of a hack. The reports quoted users as saying that the hacking argument was just an excuse to cover up the scam. “I think there’s a high probability that it’s a scam because this whole hacking thing seems like something they made up,” said the user. Colin Wu, a crypto reporter, revealed that the company had fired a majority of employees, raising more suspicion.
“Users of BlueBenx, a Brazilian cryptocurrency investment platform with more than 22,000 users, can no longer withdraw funds, which promises returns of up to 66% by investing in cryptocurrencies. BlueBenx claimed to have been hacked and fired most of its employees.”
As per recent studies, hackers duped users with a record $14 billion in cryptocurrencies in the last calendar year. If the BlueBenx incident comes out to be a Brazil crypto scam, it could further dent investor trust in crypto companies. BlueBenx claims to be a “high performance crypto platform” that offers regular interests for crypto investments. Users are promised incremental liquidity and multiple rewards. Founded in 2017, BlueBenx develops products and solutions related to blockchain and cryptocurrencies, as per its website.
Increasing Cases Of Crypto Frauds
Last month, the founder of MBI, who had allegedly scammed millions of dollars in cryptocurrency, was arrested. The MBI group defrauded over 400 people in China for over 100 million yuan in crypto.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Are XRP and Midnight Ahead in Tokenization? Cardano’s Hoskinson Sparks Debate Amid Canton Push
- Breaking: U.S.-China Tensions Heat Up as China Imposes New Sanctions; Bitcoin Falls
- BlackRock Hints at a Big Sell-Off As $27B In Crypto Options Expire
- Aave DAO vs Labs: Aave Founder Pledges Clearer Economic Alignment as DAO Rejects Brand Asset Transfer
- Universal Exchange Bitget Partners UNICEF to Equip Youths to Thrive in the Digital Economy
- Cardano Price Eyes a 40% Surge as Key DeFi Metrics Soar After Midnight Token Launch
- FUNToken Price Surges After MEXC Lists $FUN/USDC Pair
- Bitcoin Price on Edge as $24B Options Expire on Boxing Day — Is $80K About to Crack?
- Crypto Market Rebounds: Are Bulls Positioning for a Santa Rally?
- XRP, Bitcoin, Ethereum Price Predictions Ahead of Jan 2026 CLARITY Act and US Crypto Reserve Plans
- Pi Network Analysis: Pi Coin Price Surges on Christmas Eve, Can It Hit Year-End Highs?
