Brazilian Teen Crypto Trader Shot Dead After Flaunting His Wealth Online

A young Brazilian cryptocurrency trader who highlighted his digitally-fueled wealth on social media was gunned down while driving his red Porsche Boxster.

What Happened: According to a New York Post report, 19-year-old Wesley Pessano Santarem was murdered on Aug. 4 as he drove through the city of Sao Pedro da Aldeia while on his way to get a haircut.

Pessano was involved as a cryptocurrency trader and investor during the past three years. He shared his success online to 133,000 followers of his Instagram account, where he posted photographs with his Porsche and wads of cash. He also maintained a YouTube channel where he shared trading tips with his 15,600 subscribers.

Police investigating the crime scene said Pessano was shot four times, including one shot to his head. A passenger in his car was injured.

See Also: Benzinga's Moon Or Bust: Crypto Regulation Incoming

Why It Happened: The murder was witnessed by pedestrians who said the killers were driving a silver Volkswagen Voyage. Police stated the killers were apprehended, but their identities and the possible motive for the crime weren't disclosed.

Unconfirmed reports on social media stated the killing was a fatal case of mistaken identity.

Santarem could also be a fatal victim of so-called "Insta-bragging," which The Sun recently claimed has led criminal gangs to target Bitcoin traders and influencers "after they have flaunted their wealth on social media."

Photo: The last Instagram photograph of Wesley Pessano Santarem, taken July 31, shows him displaying the contents of his wallet and his Porsche Boxster.