$300 Million USDC Stablecoin Scam Rocks North America: Key Arrest Made

A fraudulent investment scheme promising 7% to 15% monthly returns via USDC stablecoin investments has defrauded over 1,200 victims across North America. The operation, run by Terablock, abruptly collapsed in August 2021, with founders vanishing and investors locked out of funds.

Authorities have arrested Mónica García, a central figure in the scam, and are pursuing other suspects including Javier Elenes in a cross-border effort between Mexico and the U.S. The scheme attracted investors through a mobile app, promoting fake algorithmic trading profits while enforcing strict withdrawal limits.

While international cooperation has progressed legal action, experts warn that victim recovery remains improbable. This case highlights ongoing crypto sector risks, particularly surrounding opaque yield claims and centralized platforms.