Brazilian Investor Buys 28 BTC With 30% Discount on Facebook

Neil Dennis

A Brazilian crypto consultant has reportedly brokered a sale of 28 bitcoins at a 30% discount on Facebook.

According to Livecoins, Márcio José Motta, the consultant, advertised earlier this week that he was selling 28 BTC – worth around $280,000 – on a Facebook group, with the catch that the coins were on the Atlas Quantum investment platform.

The sale was made a 30% discount, as the platform itself is facing various challenges. For one, it’s widely believed to be a Ponzi scheme, as it claims to use a bot – an internet software application – that can examine prices across exchanges to take advantage of arbitrage opportunities, and reward traders for their investments.

 

 

Facebook bitcoin sales adsSource: Livecoins

The company has also been notified by Brazil’s Securities Commission (CVM), as users have been reporting withdrawal issues from its platform. This means the discount came from a user who likely tried – and failed – to withdraw his funds.

The BTC sale was reportedly completed in less than an hour, as the crypto consultant claims to have connected the seller to a group of investors who’re always looking for cheap BTC. Márcio added that he had concluded similar operations with other exchanges, telling the Brazilian news outlet:

The same thing happened with Negociecoins. In transactions related to that exchange alone I’ve moved over 40 BTC a day.

Meanwhile, Atlas Quantum, the platform that’s seeing users struggle to withdraw, has said it’ll reward them with a 25% premium once they are indeed able to get their funds out. The bonus, the company claims, is related to days in which it failed to pay out “arbitrage” revenues. The company further said it’s unaware of any discounted BTC sales going on between its users.

The cryptocurrency scene has been growing in Brazil. As covered last month the public transportation system of the city of Fortaleza, the capital of the state of Ceará, has started embracing cryptocurrency payments.