In 2023 and 2024, the cryptocurrency scam case in Paraguay involved over 4 billion dollars.

According to Wu, as reported by Bitcoin News, Diosnel Alarcon, head of the Cyber Crime Department of the Paraguayan National Police, pointed out that in 2023 and 2024, funds transferred through Crypto Assets scams and Ponzi Schemes exceeded $4 billion, with unlawful intermediaries creating false platforms as bait, initially depositing a small profit into the victims' accounts, only for the victims to realize they were scammed months later.

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