New details in Brazil’s Pharaoh of Bitcoins case, a vast cryptocurrency pyramid scheme, have emerged, including links to drug money, charitable donations to a church and a murder-for-hire plot.
In 2015, Glaidson Acácio dos Santos, a former waiter and pastor, founded a company, GAS Consultoria Bitcoin, that traded in cryptocurrency. He soon had a vast portfolio that moved hundreds of millions in dollars.
However, the success story quickly fell apart when he was arrested in August 2021 and accused of building a complicated pyramid scheme.