According to a ChainCatcher report, Venezuelan police arrested Rosa María González, a suspect in the Generación Zoe fraud case, in San Cristóbal. The scam caused investors to lose at least $120 million. Leonardo Cositorto, the head of Generación Zoe, previously stated that Rosa María González fled with 611 bitcoins after the project collapsed, which were worth approximately $56 million at the time. Investigations revealed that Generación Zoe attracted investors by promising returns of up to 7.5%, which turned out to be a Ponzi scheme. Rosa María González had claimed that the trading algorithm she developed had quantum security features and could yield 70% monthly returns. During her time on the run, she is suspected of planning a new fraudulent project, promising a minimum investment of $1,000 with a 5% monthly return. Currently, Argentina and Venezuela are experiencing tense diplomatic relations, complicating the extradition process.
Argentina's Crypto Fraud Suspect Arrested in Venezuela in a $120M Scam
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Summary
Venezuelan police arrested Rosa María González, a suspect in Argentina's Generación Zoe cryptocurrency market scam, in San Cristóbal. The scheme defrauded investors of at least $120 million. González allegedly fled with 611 BTC (worth $56 million at the time) after the project collapsed. The scheme, which offered 7.5% returns, was a Ponzi operation. González once claimed her trading algorithm had quantum security and could deliver 70% monthly gains. During her escape, she allegedly planned a new scam offering 5% returns with a $1,000 minimum investment. Argentina and Venezuela's tense diplomatic relations are slowing the extradition process. Cryptocurrency analysis experts highlight the case as a red flag for high-yield investment schemes.
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