Brazilian federal police have uncovered around $27.6 million in bitcoin after a series of reported Ponzi schemes from one company, The Daily Hodl reported.

The company, based in Rio de Janeiro, allegedly operated the Ponzi schemes and stole from victims using bitcoin, the report stated. The authorities carried out 15 search warrants and seized 591 bitcoin.

The police also arrested five individuals involved in the scheme, according to the report, in a plan called “Operation Kryptos.” They recovered around $2.6 million in cash, 21 luxury vehicles and watches, jewelry, electronics and documents in connection with the schemes.

In other news, luxury hotel Chedi Andermatt, which is controlled by billionaire Samih Sawiris, will allow cryptocurrency payments for stays in the Swiss Alps, Bloomberg reported.

The hotel plans to accept bitcoin and ethereum as payment. It said it also plans to possibly take other cryptocurrencies as payment in the future,…

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