Terablock encryption eyewash sweeps across the US-Mexico border! 1,200 investors lost over $300 million, and the 15% monthly interest on USDC investments is actually a Ponzi trap.

The crypto assets scam associated with the DeFi platform Terablock has left over 1,200 investors in Mexico and the United States with significant losses, with authorities estimating the total amount lost to be over $300 million. This scam, which began in 2019, used USDC stablecoin investments as a front, promising 7%-15% monthly returns, and showcased false profits through a mobile application listed on the Apple App Store and Google Play. After the platform ceased operations in August 2021, citing "technical shutdown," the founder went missing. Cross-border manhunts between Mexico and the U.S. have led to the arrest of key suspect Mónica "N", while the mastermind Javier Elenes and his accomplices are under investigation. Victims have lost everything, and some have even considered taking their own lives, with experts warning that recovering funds could take years. This article includes a guide for preventing crypto scams.

【eyewash: $300 million evaporated, 1200 families shattered】 A crypto assets eyepatch related to the decentralized finance ( DeFi ) platform Terablock has led to over 1,200 investors in Mexico and the United States losing all their invested funds. Authorities initially estimate that the total loss amount exceeds $300 million, dealing a devastating blow to numerous families and businesses.

[High Interest Bait: USDC Financial Management Monthly Interest Up to 15%] The core of this eyewash is the promise made to investors of obtaining high returns of 7% to 15% per month by investing in USDC stablecoin. Victims access their accounts through a mobile application downloaded from the Apple App Store and Google Play store, and view their claimed "investment returns" within the app. This method of leveraging mainstream app store listings to increase credibility is highly deceptive.

Terablock Timeline:

• **2019: ** Terablock began promoting its so-called "high-yield stablecoin investment program" in North America.
• August 2021: The platform operation suddenly interrupted, and Terablock only evaded with the unexplained "technical shutdown".
• Aftermath: The platform founder immediately disappeared without a trace, and investors completely lost control over their funds.

[International Manhunt: Key Suspect Captured] After a large-scale protest outside the prosecutor's office in Baja California, police arrested a woman named Mónica "N" in La Paz, accusing her of being a co-conspirator in this fraud case. Mexican and U.S. authorities are conducting a joint operation to investigate the main suspect Javier Elenes and several of his accomplices.

[eyewash operation: Ponzi + pyramid scheme characteristics are obvious] A victim revealed the company's operating model to local media:

1. The company claims to generate profits using algorithmic trading.
2. Pay returns to early investors to encourage them to recruit new members (referring people), which has obvious characteristics of a pyramid scheme.
3. Withdrawal restrictions are strict: Withdrawals can only be requested on specific dates.
4. High Exchange Fees: A huge fee is required when exchanging Crypto Assets for pesos or USD.

[Victim's Lament: Ruin and Despair] Despite international cooperation advancing legal processes, experts warn that recovering lost funds may take years and may never be fully recovered.

Another victim's statement reveals the devastating consequences of the eyewash: "Some people lost their life savings, went bankrupt, mortgaged their houses... Some even ended their own lives due to the despair brought on by this scam." The real plight of crypto assets scam victims is shocking.

[Crypto Investors Must Read: Practical Guide to Preventing Scams] To avoid falling into similar Crypto Assets eyeglasses, financial authorities and security experts recommend:

1. In-depth Due Diligence Platform: Thoroughly investigate the legal registration information of any investment platform, the background of the core management team, and the reporting records in authoritative media.
2. Beware of High-Interest Promises: Stay away from platforms that promise fixed or abnormally high returns (such as monthly interest >5%). The cryptocurrency market is inherently volatile, and high returns are always accompanied by high risks.
3. Identify High-Pressure Sales: Be wary of "limited time offers" or unsolicited investment recommendations from acquaintances (who may also be victims of social engineering).
4. Control of Private Key Sovereignty: Always ensure that you securely store your cryptocurrency private keys and never let the platform control them.
5. Timely Loss Prevention and Evidence Collection: If you suspect you are a victim of an eyewash, immediately stop trading and collect all communication records, transaction receipts, and other evidence, and quickly report to law enforcement.
6. Continuous Learning: Strengthening cybersecurity education and awareness, and paying attention to the official risk alerts issued by financial regulatory authorities, is key to reducing risks in the encryption ecosystem.

Conclusion: The Terablock eyewash lured investors with the USDC stablecoin, relying on a fake mobile application and outrageous high-interest promises, ultimately siphoning off over $300 million from 1,200 investors in Mexico and the U.S. Its essence of a Ponzi scheme combined with pyramid selling and its multinational operational methods ring alarm bells in the industry. Although joint law enforcement efforts between Mexico and the U.S. have made progress, the road to recovering the funds is long, and the trauma for the victims is profound. This case once again highlights the iron law in cryptocurrency investment that ‘there are no free lunches’—any promise of high fixed returns that defy market rules is highly likely to be a meticulously designed scam. Investors must adhere to the principle of 'DYOR' (Do Your Own Research), maintain control over their private keys, and remain cautiously vigilant about any investment opportunity. Regulatory agencies and app stores also need to strengthen their reviews to collaboratively build a safer crypto ecosystem.