The Venezuelan Attorney General's Office has launched an investigation into the cryptocurrency investment platform HV IJEX for alleged fraud, which is reported to have affected approximately 80,000 people. The investigation was announced by Venezuela's Attorney General, Tarek William Saab, who described the investment system as a Ponzi scheme. This development follows rising concerns about cryptocurrency scams in Latin America, including Paraguay, where over $4 billion was reportedly funneled through fraudulent platforms between 2023 and 2024. In Brazil, a court recently sentenced three executives behind a $190 million crypto Ponzi scheme, known as Braiscompany, to a combined 171 years in prison. The mastermind, Joel de Souza, received 128 years for laundering funds from around 20,000 investors. Authorities continue to emphasize the manipulative tactics scammers use to convince victims to invest in fraudulent cryptocurrency schemes.