There is a company in Brazil called Genbit (Gensa Serviços Digitais). It was previously known as Zero10 and was shut down by the Brazilian government in 2019. The owner of the company recreated the company under the name Genbit and created a holding called Treepart. In November 2019 the Commission of Monetary Values again pointed out irregularities again. The company was offering return rates of 15% monthly and attracted a lot of greedy investors.
Initially the company was selling "investments in Bitcoin". To get the 15% monthly return the investor should by an "investment package" that costs R$ 26 000 ( about US$ 6000). Now the Bitcoins disappeared and the company decided to pay the investors with a Token that they invented called TPK (TreepToken) . The company expects that some investors will speculate on the TPK and get money selling it.
This is very similar to what Bitconnect did in 2016.
To avoid the regulations from the Brazilian government Genbit founded a ghost company in Estonia.
Submitted February 04, 2020 at 04:11PM by Grevillea_banksii https://ift.tt/2SkGOy6 https://ift.tt/2Z7cX2s
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