Retired Brazilian soccer star Ronaldinho Gaucho has denied accusations of involvement in a cryptocurrency pyramid scheme bearing his identify.
On Thursday, the soccer star, whose actual identify is Ronaldo de Assis Moreira, appeared earlier than a bunch of lawmakers at a congressional listening to to handle these critical allegations.
He categorically denied any affiliation with the corporate implicated within the fraudulent actions, referred to as 18k Ronaldinho Comércio e Participações Ltda.
The corporate lured buyers to make use of an alleged rip-off platform.
The platform operators invited crypto holders to speculate a minimal of $30 price of crypto, and promised them positive factors of two% or extra per day on their stakes.
“They misused my identify to create this firm’s company identify,” Ronaldinho asserted firmly through the listening to, in line with a press release from the Nationwide Congress of Brazil’s decrease home.
“It isn’t true I’m the founder and controlling companion of 18K Ronaldinho,” the 43-year-old former participant identified for his illustrious profession with Brazil and Barcelona mentioned.
The famend former participant clarified that he had signed a contract with a US-based entity, 18k Watch Company, in 2016 to develop a line of watches that includes his picture.
Nonetheless, it stays unclear whether or not these two firms are associated.
In the course of the congressional listening to, the rapporteur Ricardo Silva inquired about Ronaldinho’s authorized actions towards the corporate for unauthorized use of his picture.
The soccer legend revealed that his brother is dealing with the authorized elements of those issues, placing the onus on him to navigate the advanced authorized panorama.
Notably, Ronaldinho discovered himself embroiled in a class-action lawsuit initiated by Brazil’s Client Relations Institute in 2020.
The lawsuit sought 300 million reais ($60.66 million) in damages on behalf of purchasers that misplaced funds within the 18k Ronaldinho Comércio e Participações Ltda rip-off.
In one other authorized bother, Ronaldinho and his brother have been arrested in Paraguay for possessing falsified passports in 2020, leading to 171 days of imprisonment.
Regardless of these setbacks, Ronaldinho stays an icon of Brazilian soccer, having been named FIFA World Participant of the Yr in 2004 and 2005.
Moreover, he clinched the World Cup with Brazil in 2002 and likewise gained the Champions League with Barcelona in 2006.
Hacks and Rug Pulls Accountable For Lack of $1.2 Billion in 2023
Up to now this 12 months, Web3 platforms have misplaced over $1.2 billion in hacks and rug pulls, in line with a report from Web3 bug bounty platform Immunefi.
The report revealed a complete of 211 separate incidents contributing to this large sum, with the month of August alone accounting for $23.4 million in losses.
The surge in losses throughout August largely contributed to tasks hosted on the newly launched Ethereum Layer 2 Base community.
As per the report, Ethereum (ETH) confronted essentially the most important variety of assaults, with 5 distinct incidents affecting protocols constructed on the community.