The authorities in Spain have detained Vitor Fajardo. It is said that Fajardo is one of Europe’s largest cryptocurrency fraudsters. Spain’s Civil Guard raided Fajardo’s Valencia offices on December 2nd.
On January 2, El Pais reported; Bank accounts and websites used to access the platform and pages where it was marketed were blocked, and a variety of documents and electronic devices were seized……… (computers, tablets, mobile phones and USB wallets. cryptocurrencies).
A total of about 2.5 million euros’ worth of assets have been frozen, including 13 high-end automobiles and 7 interventions in the financial system. The 2.5-million-euro number is the amount of money that was seized. It’s still unclear how much money Fajardo made and how much money investors lost.
Spanish officials are working with Europol to bring a criminal case against Fajardo (seen above, right). The Ponzi scheme DXRCoinTrade by Vitor Fajardo, if you’ve never heard of him, is probably a complete mystery to you. A failed real estate offering called DXR3200 was the start of Fajardo’s “DXR” firms in 2017. Financiers were promised a weekly return of 2.5 percent by DXRCoinTrade when it was introduced in late 2018.
It’s possible that there was a relaunch in 2019 DXRCoinTrade appears to have gone through several variations, including DXR3200 Investments and AutoDXR, according to this report. On or around December 2020, DXR3200 Investments’ website went up. There was a domain name registration in February 2021 for AutoDXR’s website About a week following Fajardo’s arrest, authorities took down the DXRCoinTrade website.
As of this writing, the website for DXR3200 Investments is still up and running. The AutoDXR service is unavailable (may have been hosted on the same server as DXRCoinTrade). Fajardo’s Ponzi scam was discovered by authorities in August after a victim complaint was lodged. An investor in DXRCoinTrade lost 150,000 euros and sought aid from a private detective.
I’ve heard that she’s a victim, but I’m not sure if that’s the case. According to Journal de Negocios, she personally attracted “top clients, from businesses, celebrities and journalists, to a well-known arbiter of football” for the firm… I’d say she was a promotion, and the commissions she earned were probably enough to pay for her time and effort.
As a result of that allegation, officials in both Spain and Portugal were able to locate further victims. Besides Luxembourg and Switzerland, DXRCoinTrade was also advertised. Authorities in Spain conducted an investigation and found Fajardo to be running a Ponzi scam. By working with Europol, Spanish police learnt about an earlier Portuguese case. In the end, local authorities in Portugal refused to take action on complaints from Portuguese victims. When Portuguese victims approached Fajardo personally, they were allegedly threatened with defamation procedures.
Additionally, Fajardo utilized the money he had invested to maintain “a high quality of life by purchasing high-end vehicles, excursions, or dinners.” Fajardo’s seven further high-end autos have yet to be found. A quick look at Fajardo’s past shows a familiar “operating Ponzi schemes is more profitable than investing in them” pattern of behavior.
Initially, Fajardo worked for TelexFree: As of Fajado’s post, TelexFree had been accused of defrauding investors by the SEC. It was discovered that TelexFree had been a $3.6 billion Ponzi fraud. Then he became a crypto bro after TelexFree Fajardo’s comeback. “Bitcoin consultant” is the title given to him on Facebook. Fajardo’s move to cryptocurrency fraud began with BitClub Network.
It was alleged that BitClub Network was a $722 million Ponzi scheme when the DOJ brought criminal charges against the company’s founders in 2019. Fajardo founded NWTI, an e-commerce scam, in 2016. Fajardo joined iMarketsLive as a promoter in 2017. According to CFTC regulations, the firm was fined $150,000 last year because of its involvement in fraud.
Fajardo relocated to Spain from Portugal in 2019. Fajardo was arraigned before a magistrate after his arrest. His release on bond has been confirmed; there are no additional developments at this time. There are millions of dollars in unrecoverable assets in a crypto Ponzi scammer who is being released. It’s still unclear if Fajardo will stick around or go off.