Brazilian Crypto Investment Platform Bluebenx Backtracks on Hack Reports, Says It Was Listed Scammed CryptoBlog

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Bluebenx, a Brazilian crypto company that recently halted buyer withdrawals, has changed its story regarding why it took this action. While the alternative issued a statement via email informing customers that it had been the victim of a vicious hack, the company now says the liquidity issues were the result of an inventory scam.

Bluebenx Switches Liquidity Point Variations

Brazilian crypto finance firm Bluebenx has changed the model on the current liquidity points it is crossing, after stopping withdrawals for some clients last week. The main rationale for the move included allegations that the alternative had been the victim of “extremely aggressive hacking”, with the shutdown of operations being part of the security protocol to deal with the aftermath of the event.

However, he has now reversed that rationalization, offering a very different approach to the problem. Bluebenx explained that the incident was the result of an inventory scam, in which the company agreed to pay to retail its own foreign money, BENX, on another platform. According to a message sent by the company to Livecoins, a local source, Bluebenx was to pay $200,000 and 25 million Benx for this detailed alternative to a third social meeting with the anonymous alternative.

Nevertheless, the alleged consultant scammed and disadvantaged the company of these funds. Additionally, the attacker took the 25 million BENX paid and swapped them for USDT using the alternative’s liquidity pools, robbing him of all his stablecoin liquidity.

The company recognized:

BlueBenx also specifies that among its more than 25,000 customers, only 2,500 were affected by the blow. The restoration plan provides that these customers will be able to resume their functions from 2023.

The company did not specify the reasons for this change in its rationalization.

Clarification on significant layoffs

The company also provided evidence of the layoffs it carried out on the same day as this incident, leading some customers to believe they had been victims of a Ponzi scheme. The company has defined:

Bluebenx has taken unpopular measures and, in the interest of security and assurance for our buyers, has terminated some of the staff and suppliers with privileged access, in order to limit access to accounts.

Although the company did not specify the number of employees who had been laid off, it reported that in the meantime, only 11 people remained on the company’s payroll and that it had abandoned its registered office and other properties to “fit in with its legal status”. and contractual obligations with its customers.

What do you think Bluebenx changes the reason for its liquidity issues? Let us know in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist primarily based in Venezuela. He describes himself as being late to the sport, entering the cryptosphere when the rise in value occurred in December 2017. Having a background in computer engineering, residing in Venezuela and impacted by the growth of cryptocurrency in a social stage, it offers a special perspective on the success of crypto and how it helps the unbanked and underserved.

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