Residents Of San Pedro, Argentina, Fall Victim To Cryptocurrency Scam

According to PANews, residents of San Pedro in Buenos Aires Province, Argentina, have recently been affected by a cryptocurrency trading scam. Approximately one-third of the city's population, around 20,000 people, were lured by promises of high returns from a cryptocurrency platform. The platform claimed to offer daily returns of 1% to 2% in USD, which significantly boosted local investment enthusiasm. Many residents invested their savings, sold their cars, or took out loans to increase their investments. However, such high-return investment schemes often come with substantial risks. On October 9, the platform announced a 14-day suspension of fund withdrawals, citing the need to cooperate with a local government investigation. This move has left many investors in a state of uncertainty and concern over the safety of their funds.