Disturbing footage has emerged of MasBitcoin CEO Jorge Sanchez in what appears to be a bulletproof vest.

Visibly shaken and covered in blood, Sanchez reveals two of his bodyguards are dead and vows revenge.

MasBitcoin emerged in mid 2017 and operated as your typical MLM cryptocurrency scam.

MasBitcoin affiliates invested bitcoin on the promise of a 5% daily ROI for 40 days (200%).

Pyramid referral commissions were also paid directly and residually through binary and matrix teams.

New investor funds appear to have slowed down in early 2018, prompting MasBitcoin to collapse.

Sometime in February, possibly early March, MasBitcoin informed investors it was shutting down.

Dear users We are writing to you to inform you of the closure of our company, this process which starts from 21 of March, 2018, so the accumulation of the passive yield is stopped as of this day.

Citing “embezzlement” as the reason for MasBitcoin’s collapse, the company promised to return invested funds to those who took a loss.

Not surprisingly that doesn’t seem to have taken place, with the collapse and losses not going down well with MasBitcoin’s primarily Mexican investor-base.

According to a video that surfaced about a week ago, on May 6th MasBitcoin CEO, Jorge Sanchez, was travelling through Cerritos San Luis Potosi.

At around midnight, his convoy was intercepted by gunman. In a shootout two of Sanchez’s personal bodyguards were killed.

Esto es lo que ocurren cuando Estafas, que te matan. Aquí Jorge Sanchez el CEO de MasBitcoin. No se debe jugar con el dinero de la gente. Posted by EvitarFraudes on Tuesday, 8 May 2018

I don’t have a full transcript of the video but a source tells me Sanchez has vowed revenge – which suggests he might know who was behind the ambush.

Local news reports place Sanchez’s bodyguards in a separate vehicle. One of the men is believed to have worked for a private security company.

Sanchez fled the scene in his BMW but was stopped nearby after police noticed his car was riddled with bullet holes.

Sanchez’s car has been seized as evidence in what authorities are investigating as a double homicide.

How much Sanchez stole from MasBitcoin investors is unclear.