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Brazil’s ‘Bitcoin King’ Arrested in Alleged Pyramid Scheme

(1/5)🧵👇 Brazil’s 'Bitcoin King’ jailed and has to sit out in upcoming election.

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(2/5) Glaidson Acácio dos Santos, better known as Brazil's ‘Bitcoin King’ had hoped to run for the upcoming federal deputy seat on 2 Oct 2022 despite being imprisoned on suspicion of participating in a cryptocurrency pyramid scheme.

(3/5) In what they referred to as Operation Kryptos last year, Brazil's federal police claimed to have taken 591 bitcoins worth 28 million in value.

The police recovered nearly 2.7 million, 21 high-end vehicles, pricey watches, jewelry, cell phones, and papers.

(4/5) The ‘Bitcoin King’ once a waiter before getting into Bitcoin, is the owner of the G.A.S. Consultoria e Tecnologia in Cabo Frio.

In January was charged with "racketeering, financial crimes, and ordering the murder and attempted murder of two business rivals,".

(5/5) What do you think of the ‘Bitcoin King's’ imprisonment?

Is it a good idea for him to continue staying in jail? Let us know in the comments!

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This post is based on this twitter thread.

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