Hackers in $140M Brazil C&M Software Banking Heist Launder Funds With Crypto
A group of hackers that gained unauthorized access to the Central Bank of Brazil’s service provider has started laundering a portion of its $140 million haul using cryptocurrencies, according to On-chain analyst ZachXBT.
The researcher revealed on Friday that between $30 million and $40 million of the stolen funds was converted to bitcoin
, ether and Tether’s USDT through Latin American over-the-counter desks and crypto exchanges.
The June 30 cyberattack on C&M Software involved a group of attackers bribing an employee into revealing their corporate credentials. Six financial institutions including BMP experienced unauthorized access to their reserve accounts as a result.
The method mirrors a recent cyberattack on crypto exchange Coinbase…
