TechFlow, April 18 — According to Bitcoin.com News, Diosnel Alarcon, head of the Paraguayan National Police's cybercrime division, revealed that cryptocurrency scams and Ponzi schemes in Paraguay amounted to over $4 billion between 2023 and 2024. These fraudulent platforms primarily operated via exchange platforms and social networks, luring investors lacking basic cryptocurrency knowledge with promises of high returns.
Alarcon stated that scammers attract victims through fake platforms and small initial payouts, with victims typically realizing they've been defrauded only after about four months. Although cryptocurrency transactions are traceable, recovering funds and identifying perpetrators is often extremely difficult due to bureaucratic procedures involving multiple governments and enterprises.
