Trade Coin Club
A 2016–2018 MLM scheme that the SEC says raised 82,000+ BTC (~$295M at the time) from 100,000+ investors on the false promise of a trading 'bot'. The SEC charged founder Douver Braga and promoters; Braga was extradited to the U.S. and faces criminal charges.
Also known as: Trade Coin Club, TCC, Douver Braga, Douver Torres Braga
Summary
Trade Coin Club (TCC) was a multi-level-marketing program (2016–2018) that promised profits from a purported crypto trading "bot" said to perform "millions of microtransactions" per second with guaranteed daily returns. The SEC says it operated as a Ponzi scheme that raised more than 82,000 BTC — about $295 million at the time — from over 100,000 investors, with withdrawals funded by other investors' deposits. [1][2]
People and status
The SEC alleged that founder Douver Torres Braga personally received about 8,396 BTC (~$55M). Braga was indicted, arrested in Switzerland, and extradited to the U.S., where he faces criminal wire-fraud charges; the SEC's civil case is pending. These are charges; he is presumed innocent unless and until convicted. [1][3]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (3)
- SEC Charges Creator of Global Crypto Ponzi Scheme ($295M) — U.S. SEC
- Top 5 SEC Enforcement Developments (Trade Coin Club) — Harvard Law (corpgov)
- United States vs. Douver Braga (case) — U.S. DOJ (WDWA)
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.