Douver Torres Braga
Brazilian national who the SEC says created and controlled Trade Coin Club, a crypto MLM that raised ~82,000 BTC (~$295M) from 100,000+ investors as a Ponzi scheme. Charged civilly by the SEC (2022) and criminally; later extradited to the U.S.
Also known as: Douver Torres Braga
Note: The allegations below are from the SEC's complaint and related criminal charges and have not been adjudicated.
Bio
Douver Torres Braga created and controlled Trade Coin Club, a multi-level-marketing program (2016–2018) that promised investors guaranteed minimum daily returns (~0.35%) from a purported crypto "trading bot." Per the SEC, the bot did no real trading; blockchain analysis showed 99.96% of withdrawals were funded by other investors' deposits — a Ponzi scheme — and Braga personally received at least 8,396 BTC (~$55M at the time). [1][2]
Status
The SEC charged Braga and three U.S. promoters in November 2022 over the ~$295 million scheme (82,000+ BTC from 100,000+ investors). Braga, based in Brazil, also faced U.S. criminal charges and was later extradited. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.