The Blockchain Argentina Foundation, through its legal area and the Scam Victims Advisory Program in Blockchain, reported that it has detected systematic fraudulent maneuvers linked to the JGYFBC platform, which operates on the Tron and Ethereum networks. The information was published on May 19 through its official account on the LinkedIn social network.
According to the statement, "the app simulated smart contracts with supposed audits and offered 'guaranteed returns', actually diverting users' funds to external wallets under the control of the scammers."
In light of this situation, the Foundation offered to provide free legal advice for victims, including support in filing digital criminal complaints with the Specialized Cybercrime Prosecutor's Office (UFECI) and the Argentine Federal Police.
Additionally, the communication stated that investigations reveal that JGYFBC deployed a facade of an algorithmic trading DApp, using wrapped USDT tokens and "dummy" smart contracts. "Internally, transfers were redirected to private wallets, and users' balances were blocked when attempting withdrawals. The recruitment scheme mainly developed in WhatsApp groups, led by supposed influencers and advisors who guided deposits step by step," they explained.
Argentina returned to the podium of the Index of Fiscal Hell, according to The 1841 Foundation.
According to data collected by the Foundation, more than 100 people in Argentina were affected, with losses ranging from USD 90 to USD 30,000. Communities of victims with matching accounts were identified: initial tests with small returns, demands for new investments, and definitive blockages.
The victims include both middle-class savers and professionals who had received labor compensation. $BTC $ #blockchain
