Premier League Football Star Gustavo Scarpa Loses Thousands of Dollars to Xland Cryptocurrency Scam

03/20/2023 11:01 • Metaverse & Beyond • 64 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

Introduction

Recently, reports revealed that Brazilian Premier League footballer, Gustavo Scarpa, lost nearly 1 million pounds, equivalent to about 1.2 million dollars, in a cryptocurrency investment with Xland scam. Alongside his fellow Brazilian footballers, Mayke Rocha de Oliveira and William Bigode, Scarpa is reported to have lost a total of about 5 million dollars in the scam. In this article, we will delve deeper into the Xland scam and how it duped these footballers.

What is the Xland Scam?

Xland is a crypto scam that promises high returns on investments in cryptocurrency. The organization presents itself as a cryptocurrency exchange that offers a unique trading experience. They claim to provide a platform that takes care of everything from purchasing to managing cryptocurrency wallets. On top of that, the exchange boasts of blending the world of artificial intelligence and cryptocurrency trading to deliver the best results to its investors.
However, it turns out that the entire platform is a well-executed scam. Instead of investing the funds of their investors, Xland would collect funds from new investors to pay its old investors as promised returns. This makes Xland a clear example of a pyramid scheme, where the early investors reap the benefits of new investors until the scheme eventually collapses.

How Did Gustavo Scarpa and Other Footballers Fall Victim to the Xland Scam?

Scarpa, Rocha de Oliveira, and Bigode were probably approached by Xland via social media channels, email, or other contact points, and were promised high returns in cryptocurrency investments. The trio, like many other victims of this scam, did not thoroughly investigate the legitimacy of the platform and instead chose to invest in it blindly.

The Aftermath

After losing almost $5 million to the scam, Scarpa reported the case to the police. While Xland denied the pyramid scheme allegations, it attempted to explain that the impact of FTX has led to losses for investors. The organization promised to return the footballer’s investment in the future. However, it’s important to note that such promises from fraudulent schemes are often proven to be invalid.

Conclusion

In conclusion, the Xland scam is yet another cryptocurrency investment fraud that has left its victims counting their losses. Gustavo Scarpa and his fellow footballers fell victim due to inadequate investigation into the legitimacy of the platform. Cryptocurrency investors are encouraged to be more vigilant and investigate thoroughly before investing their funds into any platform.

FAQs

1. What is the Xland scam?
Xland is a well-executed cryptocurrency scam that promises high returns on investments in cryptocurrency.
2. How much did Scarpa and his fellow Brazilian footballers lose in the Xland scam?
Scarpa and his fellow Brazilian footballers lost a total of about 5 million dollars in the scam.
3. What can investors do to avoid similar scams?
Investors can avoid such scams by thoroughly investigating the legitimacy of the platform and avoiding any platforms that promise unrealistically high returns.

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