Brazilian police seize US$45,000 in crypto in protection racket crackdown
21st April 2025 – (Brasilia) Brazilian police have confiscated $45,000 worth of cryptocurrency in a major raid targeting a protection racket that extorted business owners in the southern state of Rio Grande do Sul. Officers also froze 13.3 million reais (US$2.3 million) in bank accounts linked to 11 suspects. The operation, named “Operation Timeo,” involved 60 agents executing 11 search and seizure warrants across several cities, including Porto Alegre, Novo Hamburgo, and São Leopoldo.
The suspects are alleged to have blackmailed small automobile garage owners, demanding payments to avoid attacks on their businesses. Police suspect the gang’s ringleaders are operating from…
