Paraguay Sees Over $4 Billion in Crypto Scams, Raising Concerns
In Paraguay, over $4 billion was moved through cryptocurrency scams and Ponzi schemes between 2023 and 2024. According to Diosnel Alarcon, head of the National Police’s cybercrime unit.
These scams, often involving middlemen and fake platforms, have targeted people with promises of high returns. Alarcon explained that investors, lacking crypto knowledge, are often misled into believing they’re earning profits, only to find their funds funneled into fraudulent accounts. While cryptocurrency transactions are traceable, recovering funds remains challenging due to international legal hurdles.
Clever Robot News Desk 20th April 2025
