The Bolivian state has again reaffirmed its reluctance to allow the use of cryptocoins in the country due to recent criminal practices carried out by some inhabitants. After denouncing a covert pyramidal scheme under a supposed investment in cryptocoins, the Bolivian Central Bank issued a statement reminding the population that it is forbidden to use virtual currencies.

According to national sources, this reminder is linked to an anonymous complaint made on April 11 in a transmission of the Bolivian television network Unitel, during which the scheme of the pyramid scheme Bitcoin Cash was accused. This scheme, masked under the name of the original cryptocoin, offers a 300% maximization on investment at 60 days of completion. This, through the sale of cryptocoins and the practice of mining abroad, according to an anonymous victim of the fraud.

After encountering multiple ads on Facebook and Whatsapp that masked of legality to the proposal, the whistleblower invested 9,000 Bolivianos - national currency of Bolivia - in Bitcoin Cash. Shortly thereafter, the scheme's web portal began to flaw. When the affected person decided to personally demand the reimbursement of his money, the administrators of the business threatened him with firearms: "I was gunned down to get away. They told me that they would not give me back my money and that in an investment they win and they lose, and I lost all my money", the victim reported, which was ultimately an armed robbery. When he went to the police authorities for assistance, he only got rid of delays and delays, so he decided to accuse the scammers on television.

However, at least as moral indemnity for the affected, the Financial System Supervision Authority (ASFI) of Bolivia did not ignore his complaints. Instead, they echoed the accusations and alerted the population about the Bitcoin Cash scam.