After the trail of million-dollar losses left by the financial platform Bybot, hundreds of investors who suffered substantial losses have begun to take action to locate the company's key executive, Gustavo de Macedo Diniz, known as the "Bitcoin Dandy." Additionally, two members of the team are being sought by the criminal faction Comando Vermelho (Red Command), a Rio de Janeiro-based group, which reportedly invested in purchasing virtual currencies with the aim of laundering drug trafficking money.

Images of two operators from Bybot who directly managed customer wallets while the platform was still active have started to circulate in WhatsApp groups. Allegedly, a message from the Comando Vermelho states that a reward of R$ 15,000 will be given for any information leading to the whereabouts of these two traders. In one of the notices, the faction emphasizes that the employee of the company should not be harmed. "Do not kill."

Increasingly, major criminal organizations are utilizing the realm of digital currencies to launder funds earned through drug trafficking. The amount of cryptocurrency involved in money laundering activities has increased by 68% when comparing 2022 to 2021, reaching a total of $23.8 billion. This data was released earlier this year by Chainalysis, a crypto market data analysis company.

A staggering downfall nearing R$ 70 million has sent shockwaves through the virtual currency financial market. The managers of the financial platform Bybot, which controlled thousands of crypto assets from hundreds of investors across Brazil, the United States, and Europe, have simply disappeared. Alongside them, all customer funds have also vanished. Many police reports have been filed in São Paulo, but victims are scattered across various states, including the Federal District.

The main executive of Bybot, Gustavo de Macedo Diniz, 27 years old, erased all his social media accounts, shut down communication channels, and halted withdrawals from the platform. Since the past Friday (August 25th), none of the investors have been able to withdraw the amounts they had deposited in their wallets. Once active on social media and frequently hosting live broadcasts, Gustavo, who came to be known as the "Bitcoin Dandy," is said to have fled the country in the direction of Asia.

With sharp persuasion, exuding charm and conveying a sense of security, the platform's administrator used to record videos for followers, demonstrating that the business was "safe" and fully legitimized. Bybot primarily operated through the practice of cryptocurrency arbitrage. This process is well-known in the stock market. When an investor chooses to operate this way, they trade assets at low prices and offer them on platforms that pay higher prices. The difference remains with the investor.

Gustavo Diniz was globe-trotting, reaping the benefits of the financial success brought about by the platform. Originally from Mogi das Cruzes, São Paulo, the trader distanced himself from his family—who lead a simple life in the interior of São Paulo—to live a life of opulence. Prior to erasing his social media, the Bybot manager would post photos from luxury resorts, ski resorts, or idyllic beaches.

An unidentified entrepreneur from the Federal District who lost $15,000 stated that the scam occurred quite rapidly. "We don't really know what happened. We were all awaiting the supposed maintenance, and suddenly, Gustavo took the site down, deleted his Instagram profile, and vanished from Telegram," he said.

As soon as Bybot went offline, Gustavo Diniz was never seen again, neither on social media nor in person. He reportedly had an operational branch of the platform in Thailand. "The suspicion of many people who suffered heavy losses and are on his trail is that the scammer's destination may have been Bangkok," said the entrepreneur.