Brazilian Crypto Firm Delays Payments, Blames Binance

Braiscompany, a Brazilian company that claims to work with cryptocurrency leasing, is delaying payments. Investors confirmed for the report of Money info that the amounts due as at 30 December have not yet been credited to their accounts.

The company, which is based in Campina Grande (PB), acquires cryptocurrencies from people and pays a monthly fee which, according to customers, can reach 9%. The model is similar to that of Rental Coins, which was part of a fraudulent cryptocurrency scheme created by the “Sheik of Cryptocurrencies” who was arrested last year.

“We would receive R$7,000 (on the 30th), since the December yield was 7%. We do not receive. This is making it increasingly clear that there is a liquidity problem in the company,” said a client who invested BRL 100,000 last year and asked not to be identified. ‘amount.

Another investor, who also asked not to be named, reported the same situation. “I couldn’t get paid (last month). I signed a contract for 20,000 BRL and another for 8,400 BRL, which would be on average 2,000 BRL (per month).”

Braiscompany’s page on the Reclame Aqui website and conversation groups and social networks have been inundated with similar complaints in recent weeks. Due to the excess of criticism, the company’s Instagram profile was closed for comments.

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Report contacted Braiscompany via email asking for more details on the reason for the delays, but received no response until this text was closed. Late last year, the company notified some customers that the delay in releasing the money was due to the creation of a new business application.

In a live broadcast Monday evening (9) on Instagram by the lawyer Artêmio Picanço, specialized in blockchain, the CEO of Braiscompany, Antonio Inacio da Silva Neto (better known as Antonio Neto Ais), changed his story and stated that Binance is going to The fault of the delays, the exchange on which the company says it depends 100% to operate and make payments.

“Binance has blocked withdrawals and transfers whenever we exceed the limit of three, four or five Bitcoins (BTC). Freezes for a few minutes, unfreezes, unfreezes, freezes again. This has been happening since November and got worse in December ”.

He also said the exchange now wants to know the origin of the money and has asked for printouts of conversations as proof. “This goes against everything we stand for in terms of decentralization,” she said.

In a statement, Binance says it does not “take any action on accounts that are not duly based on terms and conditions, agreements, and policies in effect and accepted by all users.” The company did not mention Braiscompany’s name in the statement.

The brokerage also said it prioritizes the safety of its users, has a robust compliance program — incorporating analytics principles and tools to prevent financial crimes — and works collaboratively with authorities to stop potential criminals from using the network. platform.

“Binance reiterates that user safety and security is a priority and that it works closely with the authorities to prevent bad actors from using the platform. The exchange emphasizes that it has a world-renowned investigative team, with former agents working in constant coordination with local and international authorities in the fight against cyber and financial crimes, including the preventive tracing of suspicious accounts and fraudulent activity”.

Live, the owner of Braiscompany said that the company manages 600 million BRL in digital assets for 10,000 customers and that, of this total, only 1% (100 people, therefore) has not received it. He also said that if the investor is no longer satisfied with the deal, he can walk away. “Whoever is annoyed, break the contract,” he said. The penalty for cancellation, however, is 30% of the value.

“The contract we signed provides for a 30% discount when the violation is unilateral and before the 12-month deadline. Given the precarious situation we are going through, I am unable to continue with the commercial relationship established. I believe that trust must permeate any relationship, especially a commercial one,” said one customer who has given up on the business.

Past related to fraud

Financial and cryptocurrency market experts recommend investors to research everything about the company and owners before making any investment. In the case of Braiscompany, it was founded by Antonio Inacio da Silva Neto and his wife, Fabricia Farias Campos (known as Fabricia Ais), in May 2018, according to the Federal Revenue Service.

Before becoming entrepreneurs, however, the two were leaders of the D9 Club de Empreendedores, a notorious pyramid scheme that used Bitcoin as a front to harm victims and left thousands in Brazil in danger.

By the end of 2020, the two had responded to at least 20 lawsuits related to the case. Some of the actions cited Danilo Vunjão Santana Gouveia (known as Danilo Dubaiano), creator of D9 who fled to Dubai after the case.

In 2019, Rede Globo’s Fantástico program showcased how Dubaians live a life of luxury in the UAE.

Investigations

In July 2020, the Securities and Exchange Commission (CVM) opened an administrative proceeding (PA) to investigate possible irregularities at Braiscompany. Since there were indications of a crime against the popular economy in the business, and the regulator does not deal with this type of infraction, the autarchy has forwarded the case to the Public Prosecutor of Paraíba.

That year, the MP-Procon, consumer protection body of the Public Prosecution of Paraíba (MPPB), began investigating the company. The person who dealt with the case was the prosecutor Socrates da Costa Agra.

At the report, the MPPB said it received a request in 2020 from an anonymous person who wanted to invest in the company and who officiated at municipal and state Procon bodies and found there were no complaints from harmed consumers. Thus, the trial was filed “because it is not a consultative body that guarantees or not the suitability of the company and because there is no damage to the consumer”.

“Obviously the filing does not prevent the launch of new procedures at the competent investigation, in the event that news or information emerges on damage to consumers”, he added.

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