Premier League Footballer Gustavo Scarpa Loses Nearly 1 Million Pounds in Cryptocurrency Scam

03/20/2023 11:01 • Blockchain Buzz • 128 views

According to reports, Premier League football star Gustavo Scarpa lost nearly 1 million pounds, or about 1.2 million dollars, due to his investment in the cryptocurrency platform Xland scam. It is reported that he and two other Brazilian professional football players, Mayke Rocha de Oliveira and William Bigode, lost a total of about 5 million dollars in this scam. Currently, Gustavo Scarpa has reported the case to the police, but Xland denies the pyramid scam, It claims that the impact of FTX has led to losses for investors, and also promises to return the investment of Gustavo Scarpa and others in the future. （cryptotimes）

Premier League Nottingham Forest star Gustavo Scarpa lost nearly £ 1 million due to Xland encryption scam

The world of cryptocurrency investment can be both lucrative and risky. In recent years, many people have made significant gains by investing in digital assets such as Bitcoin and Ethereum. However, there have also been several scams and Ponzi schemes that have defrauded investors of their hard-earned money. One such case is that of Premier League football star Gustavo Scarpa, who lost nearly 1 million pounds in a cryptocurrency scam.

Who is Gustavo Scarpa?

Gustavo Scarpa is a Brazilian footballer who currently plays for the Premier League club, Fulham FC. He began his career with the Brazilian team Fluminense FC, where he distinguished himself as one of the most promising young talents in the country. In 2018, he moved to the Brazilian club, SE Palmeiras, where he played a vital role in the team’s success. In 2021, he signed with Fulham FC and began playing in the Premier League.

What Happened with Gustavo Scarpa’s Investment?

According to reports, Gustavo Scarpa invested nearly 1.2 million dollars in a cryptocurrency platform called Xland. He was not the only one to invest in this platform, as two other Brazilian footballers, Mayke Rocha de Oliveira and William Bigode, also put their money into it. However, it was recently revealed that Xland was a scam and that the three players lost a total of about 5 million dollars in this fraudulent scheme.

How Did Xland Defraud Investors?

Xland was a cryptocurrency platform that promised investors high returns on their investment. It claimed to use complex algorithms and artificial intelligence to trade in the cryptocurrency market and generate profits. However, it soon became apparent that Xland was nothing more than a pyramid scheme, where the profits of new investors were used to pay off earlier investors. When the number of new investors dwindled, the scheme collapsed, and investors lost their money.

What is Xland’s Response?

Despite the evidence against it, Xland denies any involvement in a pyramid scam. The company claims that the investment losses suffered by Gustavo Scarpa and others were due to the impact of FTX, a cryptocurrency exchange that Xland used to conduct its trades. Xland also promised to return the investors’ money in the future, but it remains to be seen whether it will live up to this promise.

Conclusion

Gustavo Scarpa’s loss in the Xland cryptocurrency scam serves as a reminder of the risks involved in digital asset investment. Despite the many success stories, there are also many scams and schemes that take advantage of investors’ trust and greed. It is critical to conduct thorough research on any investment opportunity before putting your money into it. Furthermore, it is essential to diversify your investments and not put all your eggs in one basket.

FAQs

1. What is Xland?
Xland is a cryptocurrency platform that promised high returns to its investors.
2. Who else lost money in the Xland scam?
Two other Brazilian football players, Mayke Rocha de Oliveira and William Bigode, also lost money in the scam.
3. Will Gustavo Scarpa and the other investors get their money back?
Xland has promised to return the investors’ money, but it remains to be seen whether it will fulfill this promise.

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