In unprecedented testimony given in court, the couple Glaidson Acácio dos Santos, known as the "Bitcoin Pharaoh," and his wife Mirelis Yoseline Diaz Zerpa detailed how the scheme worked that, according to authorities, moved more than R$ 38 billion and may have left 77,000 victims. The excerpts were revealed by the Fantástico program on TV Globo, in the case that will judge whether they committed crimes against the financial system.
Glaidson admitted to being a cryptocurrency "whale," a nickname given to investors who hold amounts of assets sufficient to influence market prices. In his testimony, he stated that, as a "whale," he was able to manipulate other cryptocurrencies and contacted other "whales" to coordinate operations.
The case has entered its final stretch, but one of the mysteries remains unsolved: how much is in the Pharaoh's cryptocurrency wallet. Authorities continue trying to trace the funds allegedly diverted from the scheme.
In Glaidson's view, the cryptocurrency market is marked by a cruel dynamic, where "some laugh, others sell handkerchiefs," referring to the profits of some while others suffer losses. The case continues to proceed through the courts.
