Ronaldinho denies part in alleged $61M crypto scam at congressional hearing <div class=\"post__block post__block_lead-text\" data-v-2649fa34><p itemprop=\"description\" class=\"post__lead\" data-v-2649fa34> The former pro soccer player said in a congressional hearing that his likeness was improperly used to market an allegedly fraudulent crypto scheme.  </p></div><div class=\"post-cover post__block\" data-v-2649fa34><div class=\"post-cover__wrp\"><div class=\"lazy-image post-cover__image lazy-image_immediate\"><span class=\"pending lazy-image__pending pending_dark\"><span class=\"pending__runner\"></span></span><picture><source media=\"(min-width: 1200px)\" srcset=\"https://images.cointelegraph.com/images/717_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 1x, https://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 2x\"><source media=\"(min-width: 992px)\" srcset=\"https://images.cointelegraph.com/images/587_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 1x, https://images.cointelegraph.com/images/1174_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 2x\"><source media=\"(min-width: 768px)\" srcset=\"https://images.cointelegraph.com/images/638_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 1x, https://images.cointelegraph.com/images/1276_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 2x\"><source media=\"(min-width: 480px)\" srcset=\"https://images.cointelegraph.com/images/747_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 1x, https://images.cointelegraph.com/images/1494_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 2x\"><img srcset=\"https://images.cointelegraph.com/images/480_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg 2x\" src=\"https://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvZTk3MTllODEtNGNlYS00NmUwLTljNGEtYWQ4NDVkZGIwYTUyLmpwZw==.jpg\" alt=\"Ronaldinho denies part in alleged $61M crypto scam at congressional hearing\" class=\"lazy-image__img type:primaryImage\"></picture><!----></div><span hidden=\"hidden\" class=\"post-cover__badge\"> News </span></div><!----></div><!----><!----><div class=\"post__socials-block post-socials_EpBtt\" data-v-2649fa34><h3 class=\"post-socials__title_WEFcI\">Join us on social networks</h3></div><div class=\"post__content-wrapper\" data-v-2649fa34><!----><div class=\"post-content\" data-v-2649fa34><p>Retired pro soccer star Ronaldinho Gaúcho has testified at a congressional hearing in Brazil, denying his involvement in an alleged $61 million crypto pyramid scheme that bore his name.</p><p>On Aug. 31 Ronaldinho <a href=\"https://www.youtube.com/watch?v=YO0xjCZcdOA\" target=\"_blank\" rel=\"noopener nofollow\">appeared</a> before a parliamentary committee inquiry where he refuted any role in the scheme called “18kRonaldinho\" that promised <a href=\"https://cointelegraph.com/news/navigating-the-world-of-crypto-tips-for-avoiding-scams\">2% daily returns</a> on crypto. A lawsuit was filed against the firm, seeking $61 million in damages.</p><p>Ronaldinho claimed he was never partnered with the company and it used his name and image without his authorization, arguing he was also a victim of the purported scheme.</p><p>During the hearing, images were shown of 18kRonaldinho’s marketing that depicted Ronaldinho.</p><figure><img src=\"https://s3.cointelegraph.com/uploads/2023-09/97fca5a7-6c60-40bb-b5e9-3a9a49ceb608.png\"><figcaption><em>The inquiry showed an image of Ronaldinho with the text “Your money yielding up to 2% a day” (translated). Source: YouTube</em></figcaption></figure><p>He said the pictures were taken as part of a contract he signed in July 2019 with a subsidiary of the company that sells watches but that contract was terminated later that year in October and was never executed.</p><p>The inquiry’s president, Aureo Ribeiro,asked Ronaldinho if he intended to reimburse those who invested in the company, to which Ronaldinho said he would remain silent.</p><p>He also did not answer when asked about the $61 million lawsuit.</p><p><strong><em>Related: </em></strong><a href=\"https://cointelegraph.com/news/crypto-breaking-victim-trust-in-scammer-is-key-to-beat-crypto-scams-exchanges-say\"><strong><em>Breaking victim ‘trust’ in scammer is key to beat crypto scams, exchanges say</em></strong></a></p><p>Ronaldinho had <a href=\"https://cointelegraph.com/news/ronaldinho-fails-testify-crypto-scam-probe-faces-possible-arrest-brazil\">failed to appear</a> before two previous hearings related to the inquiry, most recently on Aug. 24. He said weather conditions meant he was not able to attend.</p><p>The latest Aug. 31 hearing was his last chance to appear before Congress — if he didn’t, Ronaldinho faced <a href=\"https://cointelegraph.com/news/crypto-entrepreneur-faces-potential-prosecution-israel-crypto-scam\">possible fines</a> or arrest in which authorities would’ve forcibly taken him to appear at the hearing.</p><p>The inquiry was <a href=\"https://www.camara.leg.br/noticias/971028-INSTALADA-NA-CAMARA-A-CPI-DAS-PIRAMIDES-FINANCEIRAS,-QUE-VAI-INVESTIGAR-O-MERCADO-DE-CRIPTOMOEDAS\" target=\"_blank\" rel=\"noopener nofollow\">launched</a> in June to investigate purported <a href=\"https://cointelegraph.com/news/billions-lost-in-crypto-ponzi-schemes-in-2022\">crypto pyramid schemes</a> and is being carried out by Brazil’s lower house, the Chamber of Deputies.</p><p>It’s investigating a total of 11 companies alleged by the country’s Securities and Exchange Commission to have falsely promised high returns using crypto.</p><p><strong><em>Magazine: </em></strong><a href=\"https://cointelegraph.com/magazine/tornado-cash-2-0-the-race-to-build-safe-and-legal-coin-mixers/\"><strong><em>Tornado Cash 2.0 — The race to build safe and legal coin mixers</em></strong></a></p><template data-name=\"subscription_form\" data-type=\"law_decoded\"></template></div><!----><!----><div class=\"reactions_3eiuR\" data-v-2649fa34><button class=\"reactions--button_NhAhG\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M21 3V0.5C21 0.223858 20.7761 0 20.5 0H19.5C19.2239 0 19 0.223858 19 0.5V3H16.5C16.2239 3 16 3.22386 16 3.5V4.5C16 4.77614 16.2239 5 16.5 5H19V7.5C19 7.77614 19.2239 8 19.5 8H20.5C20.7761 8 21 7.77614 21 7.5V5H23.5C23.7761 5 24 4.77614 24 4.5V3.5C24 3.22386 23.7761 3 23.5 3H21Z\" fill=\"black\" /><path d=\"M21 12C21 16.9706 16.9706 21 12 21C7.02944 21 3 16.9706 3 12C3 7.02944 7.02944 3 12 3C12.5491 3 13.0868 3.04918 13.6088 3.14338C13.8386 3.18485 14 3.38876 14 3.62227V4.6194C14 4.95387 13.6774 5.194 13.3492 5.1299C12.9126 5.04466 12.4615 5 12 5C8.13401 5 5 8.13401 5 12C5 15.866 8.13401 19 12 19C15.866 19 19 15.866 19 12C19 11.5385 18.9553 11.0874 18.8701 10.6508C18.806 10.3226 19.0461 10 19.3806 10H20.3777C20.6112 10 20.8151 10.1614 20.8566 10.3912C20.9508 10.9132 21 11.4509 21 12Z\" fill=\"black\" /><path d=\"M8.5 12C9.32843 12 10 11.3284 10 10.5C10 9.67157 9.32843 9 8.5 9C7.67157 9 7 9.67157 7 10.5C7 11.3284 7.67157 12 8.5 12Z\" fill=\"black\" /><path d=\"M12 14.9998C11.0428 14.9998 10.3956 14.6246 9.97685 14.2525C8.54647 12.981 7.2289 14.4858 8.64815 15.7473C9.35444 16.3751 10.4572 16.9998 12 16.9998C13.5428 16.9998 14.6456 16.3751 15.3519 15.7473C16.7737 14.4835 15.4635 12.9722 14.0231 14.2525C13.6044 14.6246 12.9572 14.9998 12 14.9998Z\" fill=\"black\" /><path d=\"M17 10.5C17 11.3284 16.3284 12 15.5 12C14.6716 12 14 11.3284 14 10.5C14 9.67157 14.6716 9 15.5 9C16.3284 9 17 9.67157 17 10.5Z\" fill=\"black\" /></svg><p class=\"reactions--button-text_N11-8\"> Add reaction </p></button><!----></div><!----><!----></div><p><strong><a href=\"https://blockads.fivefilters.org\">Adblock test</a></strong> <a href=\"https://blockads.fivefilters.org/acceptable.html\">(Why?)</a></p>