Argentinian crypto scam uses actors to defraud entire city

A crypto scam in San Pedro, Argentina, has reportedly swindled up to 20,000 people, using little-known actors to promote a fraudulent project called RainbowEx. 

Lawyers representing victims claim that investors were promised to double their money within six weeks. 

The scheme, operated by a group calling themselves the Knight Consortium, offered daily returns of up to 2% in US dollars.

The Knight Consortium, unregistered and lacking any legal backing, presented itself as a legitimate platform, attracting numerous residents, including retirees, to invest their savings. 

According to lawyer Adolfo Erdaire, many victims have been unable to withdraw their funds for weeks, causing fear and concern. 

Erdaire noted that some investors continue to cling to the hope that the platform is legitimate, despite growing evidence to the contrary.

Social media users have uncovered that two of the supposed CEOs of the consortium were actually Polish actors hired to impersonate company executives. 

A video circulating online shows these actors in television dramas, and it’s alleged that one of the actors, Maurycy Lyczko, was paid $1,500 to participate in a conference at a San Pedro hotel.

Another central figure in the scam, an "Asian woman" known as La China, gained a large following in San Pedro through her Telegram channel, where she provided investment tips that would often bring the city’s activities to a standstill. 

However, it’s been speculated that La China may not be real, and could have been created using AI tools.