Paraguay, land of scams? Paraguay is a country in South America which has the distinction of having very cheap electricity. Which A destination of choice for cryptocurrency minors. But today, it is for a completely different reason that the country is talking about it. Indeed, according to a recent report, this territory would have become a favorite land for crypto scammers. Because more than $ 4 billion would have passed through the country between 2022 and 2023. We do the accounts…
The key points of this article: Paraguay has been designated as a paradise of scams linked to cryptocurrencies, with more than $ 4 billion between 2022 and 2023.
The scammers took advantage of the difficult economic and social context of Paraguay, using the country as a basis for operating throughout Latin America.
Paraguay: a paradise for crypto scams
THE Crypto scams evolve at the same frantic pace as the sector of cryptocurrencies. This is the reason why It is often difficult to detect them Before victims were officially identified. Digital monitoring that comes from point your radar to Paraguay. Because this territory of South America would have been identified as The local hub for crypto scams of all kinds.
Crypto scams hit Paraguay, this is in any case what the monumental local media reveals, in an article on the subject. With a record announced by the head of the national police cybercrime department, Diosnel Alarcon, who reports Global damage estimated at more than $ 4 billion. This in the form of funds having transited by Paraguay between 2022 and 2023. All areas are concerned. Because these scams take the form of Investment fraud, From scams to romance or Fraud associated with technical supports. The latter consisting of pretend to be legitimate customer service In order to ask the victims to provide their personal information or their private keys.
The scammers take advantage of the country's economic and social context
According to the police chief, the scammers take advantage of the difficult economic and social context Paraguay to attract their prey. Indeed, this country is experiencing high inflation, high unemployment rate and endemic corruption. A soil favorable to which must be added a young and connected population. Which An ideal target for crypto scams to the promises of impossible yields. As a result, Paraguay is now identified as a Regional hub for scammers. Because they use the country as a rear base for operate throughout Latin America. This while at the same time operating the country's regulatory and judicial flaws for whiten their funds and escape the authorities. Paraguay must strengthen its Fight against crypto scams By adopting stricter regulation measures and by collaborating with other countries in the region. At the same time, local authorities recommend that users be wary of too attractive offers and verifying the identity and reputation of their interlocutors before sending them funds.