Brazilian police seize $126m in major crypto money laundering operation raids – DL News
- Police make seven arrests, including suspected ringleader.
- Officers raided addresses in three states.
- Crypto-powered money laundering crackdowns becoming more frequent.
Brazilian police say they dismantled a crypto-powered money laundering network on January 20, with officers freezing or confiscating $126 million worth of cash and other assets.
The network laundered money for criminal groups based both in Brazil and abroad, federal police said in a statement. Officers did not mention which cryptocurrencies the group allegedly used.
“The network has moved more than [$7.3 million] worth of illicit funds through coordinated operations involving affiliates and shell companies,” police said.
The operation, codenamed Narco Azimut, is the latest…
