Argentinian lawyers have claimed that up to 20,000 individuals in San Pedro, Buenos Aires, have invested their money in a fraudulent cryptocurrency project that promised to double investors’ money in six weeks. The platform, known as “RainbowEx,” offered daily returns of up to 2%, paid in US dollars, with some investors receiving daily returns of between 1% and 2%. The platform claimed to be a foundation operated by a group of shareholders and presented itself as a legitimate investment opportunity in the stock market. However, the consortium is not registered and lacks legal endorsement or support.
The lawyers representing the victims of this cryptocurrency scheme have reported that many residents of San Pedro, including retirees and individuals who invested their life savings, are unable to withdraw their money from the platform. Residents who have not been able to access their funds for weeks are now expressing fear and concern as the platform’s legitimacy comes into question. The consortium first gained popularity in the city four years ago, initially spreading through word of mouth and later going viral. An investigation into the consortium has just begun, with allegations that the individuals promoting the platform at events in San Pedro are Polish actors impersonating CEOs.
One of the platform’s promoters, an Asian woman known as “La China,” provided investment advice to residents in San Pedro through her Telegram channel, causing excitement and bringing the city’s activity to a standstill as residents awaited her tips. The platform managed to convince an entire city into believing they were participating in a legitimate investment opportunity akin to the “Wolf of Wall Street.” Reports indicate that a Polish actor named Maurycy Lyczko was hired to impersonate a CEO of the consortium at a conference in San Pedro, adding to the deception. However, the actor claimed he was hired by an Asian individual and paid $1,500 for his performance at the event.
The fraudulent individuals behind the scheme duped investors by promising high returns and the conversion of fiat pesos to USDT through the RainbowEx exchange. Investors, like Mariano, were enticed by promises of receiving their initial investment back within 45 days and keeping the profits. Investigations are ongoing to uncover the full extent of the deception and hold responsible parties accountable for their fraudulent actions. The lawyers representing the victims are urging citizens to take immediate action to protect their savings if they have received financial advice from the individuals involved in promoting the bogus cryptocurrency project.
Social media users and internet sleuths have uncovered information suggesting that the actors promoting the fraudulent scheme, including La China, may not even be real individuals but instead fabricated personas created using AI tools or impersonations. The prevalence of such scams highlights the importance of conducting thorough due diligence before investing in any cryptocurrency project to avoid falling victim to fraudulent schemes. As the investigations continue and legal actions are taken against the perpetrators, residents of San Pedro and other affected individuals are advised to remain vigilant and cautious when engaging in cryptocurrency investments to protect their financial assets and prevent future scams from occurring.
