A Brazilian man extradited to the U.S. for a $290 million cryptocurrency scam
ChainCatcher news, according to the official website of the U.S. Department of Justice, Brazilian man Douver T. Braga has been extradited from Switzerland to the United States for his involvement in a $290 million Bitcoin Ponzi scheme and appeared in federal court in Seattle.He is charged with 12 counts of wire fraud and 1 count of conspiracy to commit fraud, with a maximum sentence of 20 years in prison. The Trade Coin Club (TCC) operated by Braga claimed to profit using "advanced algorithms," but it was actually a Ponzi scheme that defrauded 82,000 Bitcoins, with at least $50 million flowing directly into personal accounts.