JorgeStolfi
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February 25, 2014, 04:36:18 PM

BitcoinRain was a Brazilian "bitcoin investment fund" that operated from Oct/2011 to Apr/2013.  It took the investor's BTC and promised a minimum 9% monthly return in BTC to them.

BitcoinRain attracted more than 300 investors who deposited more than 15,000 BTC there.

In Mar/2011, when the price of BTC was rallying, one of the investors tried to withdraw 1200 BTC of the 2600+ that he thought he had in the fund.  By its terms, the fund should have done that within 3 days.  The fund operator delayed the withdrawal with technical excuses for 3 days, then told all clients that he had just been hacked and all their coins had been stolen. ˜Sorry, folks."

The story sounds familiar?

The BitcoinRain clients haven't got their BTC back yet, and most likely never will.

The story is told here (in portuguese) by one of their former customers:
http://defendaseudinheiro.com.br/a-verdadeira-historia-do-mercadobitcoin/