It was in Argentina, in a city called San Pedro, where people dream of making a fortune. Each week, “China”, a term that designates a Chinese woman, came to make the inhabitants of the city a little richer.
It all started when a city resident appeared in an expensive costume in a local barbecue. He told the listeners that a woman had made him rich in stone. He called her “China” and would perish all those who listened to her in wealth. But it was a little different.
The crypto assembly
In the small town of 70,000 inhabitants, more and more people knew China. He appeared every day of the week on the Rainbowex Telegram page, an exchange of cryptos.
She recommended to buy a same concrete with little liquidity and sell it again at a higher price, which has always happened. It gave people’s confidence because they made money.
Although China has remained anonymous, residents started buying cars, motorcycles and other things with their earnings.
The classic signs of a pyramid scam began to appear, but greed generally gains information. For example, Rainbowex Investors obtained 20% of the income from new members who introduced the platform. Participants also received 2% interest per day. There is nothing more classic.
At one point, this story had traveled the whole city and the streets were calm around 9 a.m. At that time, it was announced which crypto should get for their next buy species . About 16,000 residents had put a total of millions of dollars in Rainbowex.
The culture of hope in Argentina
In this country whipped by inflation, this type of practices falls into fertile land. The case Balance It is still fresh in the minds of residents. Citizens feel disappointed by politics and do not take long when suddenly an opportunity arises to improve their lives.
For example, Max Higgins arrived in San Pedro by helicopters flanked by alleged Arab investors. He said he was going to build a Disney theme park, with jobs and tourist income for all. 5,000 people fell into the trap and everyone lost their money. The problem is that in these regions, hope is lost and whoever offers a certain hope is considered fairly quickly.
After this scam, Rainbowex’s time has arrived. “Society”; He created a fund for food and sporting equipment banks, with Rainbowex’s income. This increased credibility, because charity is not led by crooks.
In a gala, Polish actors were hired to entertain investors with more success, in which, of course, he was prevented from participating in China. These poles were presented as Americans, but were unmasked by facial recognition.
Keep him and coat it
Joining the project was simple. You had to download software, change your Argentinian weights to Attached (USDT) and you could start working. The cult was so strong that the football matches stopped for a while to be able to exchange. People have started to sell assets to invest more.
The first investors became so rich that they left their work. But, unfortunately, for them, shortly after, they could return to work.
The first strike
Maximiliano Forteman, loving denying the scams, highlighted the Rainbowex code. He discovered that no operation had been carried out.
Everything was wrong. Rainbowex employees have limited themselves to entering profits. To increase the number of victims, they first continued to pay with the scam funds. In this way, they were always credible, and the lucky people attracted more people in “trade”. Or rather, to scam them. Firtman arrived just in time before this Château de Naipes Ponzi collapsed.
On October 1, 2024, Firtman spoke of the national radio of its conclusions. 4 days later, the local news rejected. On October 5, we talked about the pyramid scam, and shortly after the conclusions on the unmasked posts, the actors appeared in the most important newspaper in Argentina.
The newspapers did this
After all these news, Rainbowex blocked fundraising. 88 The attachment could still be paid to migrate to another place, but this money has also disappeared.
Frauded investors were furious against … newspapers! Rumors circulated that journalists wanted to make money with the fall of Rainbowex – the newspapers were supposed to be the real crooks! Death threats followed media platforms. Suddenly, everything had become a plot of conspiracy.
A reaction can still be understood with a certain empathy. People lost an average of $ 2,000, but a few tons lost. They were furious and China did not go out in the photo to be reprimanded, but the newspapers did it.
$ 46 million has disappeared stable
Prosecutors have already arrested several people and accused them of fraud. 46 million people have disappeared (a stable crypto that is worth a dollar) and has only taken 3.5 million. The actors turned out to be real actors, who had a cameo Like this, as usual, the source of income.
Rainbowex software seems to be a copy of 2021 Chinese software that moves worldwide and changes its name each time. More than 200 platforms with this software were created, and in Italy, there was also a character called “Dolly”. The Italian equivalent of China.
One thing is certain: San Pedro will never be the same again after this tragedy. We will keep our subscribers daily, Follow us in X.
Do you instantly want the latest cryptographic news? Follow us on Twitter / X