A major crackdown on crypto fraud has seen key leaders of a Brazilian Ponzi scheme sentenced to lengthy prison terms. The Braiscompany scheme, notorious for its deceptive promises of 20% monthly returns to over 20,000 investors, has resulted in losses of $190 million. The court seized assets worth R$36 million and the convicted leaders have been ordered to serve long sentences. This significant sentencing decision underscores Brazil’s commitment to fighting crypto fraud and protecting retail investors, but its impact on the wider cryptocurrency market remains minimal. 20% monthly returns from unregulated schemes are a clear indication of how easily people can be exploited in the crypto space. While this event may have shaken investor confidence in Brazil, the global crypto market saw little disruption.