Brazilian singer Gusttavo Lima denies involvement in crypto fraud
Brazilian singer Gusttavo Lima denies crypto fraud
Brazilian sertanejo star Gusttavo Lima has denied any involvement with cryptocurrency investment platforms following reports of fraudulent schemes using his name and image without authorization.
His management company, Balada Music, issued a statement on social media over the weekend clarifying that the singer has no connection to any crypto-related business and warning the public to be cautious, according to Portal do Bitcoin.
The announcement came after numerous complaints from fans who claimed they were targeted by scams falsely associated with the artist. "We ask that you report any suspicious publications," Balada Music stated, emphasizing that Lima is not promoting any financial ventures.
Legal action against fraudulent use of Lima’s image
Balada Music further assured that legal measures are being taken against those responsible for the deceptive campaigns. "Our legal department is actively working to hold accountable those who misused the artist’s name and image in an attempt to defraud the public," the statement read.
While the specific company behind the alleged scam was not disclosed, this is not the first time Lima's name has been linked to cryptocurrency discussions. In May 2021, he promoted CryptoX Revolution, a platform that claimed to offer returns of up to 400% on investments.
Lima has also faced legal scrutiny in recent years. In September 2023, he was named in an investigation into illegal gambling and money laundering as part of Operation Integration. Although an arrest warrant was initially requested, the charges were later dropped in December.
Balada Music reaffirmed that Lima remains uninvolved in any crypto investment schemes and urged the public to verify information before making financial decisions.
Meanwhile, Brazil has solidified its status as a global leader in crypto, with 26 million citizens—12% of the population—owning digital assets. This ranks the country sixth worldwide in crypto adoption, highlighting its growing impact in the sector.
