Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

Brazil Police Bust Crypto Laundering Scheme

August 2, 2024
Reading Time: 2 mins read
in News

Civil police in São Paulo, Brazil, have dismantled a cryptocurrency-based money laundering operation linked to the Primeiro Comando da Capital (PCC), a notorious drug gang. The group reportedly laundered over $88.6 million USD through a cryptocurrency exchange registered under the name of a 23-year-old woman, daughter of a city council candidate in Mogi das Cruzes. Authorities seized 55 million reais worth of checks during the raid and arrested 13 individuals involved in the scheme.

The operation’s proceeds were allegedly intended to finance organized crime during Brazil’s 2024 municipal elections. The PCC gang’s use of cryptocurrencies has been a growing trend in the country, where digital assets are increasingly being used to launder illicit funds. Earlier this year, Brazilian federal police uncovered another crypto-powered laundering scheme worth $2.6 billion.

Cryptocurrencies have become a favored tool for criminals in Brazil, with six local cryptocurrency exchanges being raided in June 2023 for laundering $380 million in illegal funds. Criminal organizations across Latin America, including the Sinaloa Cartel and MS-13, have also turned to digital currencies to facilitate their illegal activities, making it a widespread issue in the region.

Despite the rise of illicit activities, cryptocurrency adoption in Brazil has continued to surge. Trading volumes increased by 30% in 2024, while the country’s central bank is expected to introduce regulations for digital assets. Major financial institutions like Itaú Unibanco and BlackRock have embraced the trend, with the former offering Bitcoin and Ethereum trading, and the latter launching a Bitcoin ETF in Brazil.

Reference:

  • Brazil Police Crackdown on Cryptocurrency Laundering Operation

Tags: August 2024BrazilCryptocurrenciesCyber NewsCyber News 2024Cyber threatsCybercrimeSão Paulo
ADVERTISEMENT

Related Posts

Half Of Mobile Users Face Daily Scams

Half Of Mobile Users Face Daily Scams

June 11, 2025
Guilty Pleas In 37M Pig Butchering Scam

Guilty Pleas In 37M Pig Butchering Scam

June 11, 2025
Swimlane Raises $45M For AI SecOps Platform

Swimlane Raises $45M For AI SecOps Platform

June 11, 2025
Texas Creates Largest US State Cyber Command

FBI Taps Brett Leatherman As New Cyber Chief

June 10, 2025
Texas Creates Largest US State Cyber Command

Texas Creates Largest US State Cyber Command

June 10, 2025
Texas Creates Largest US State Cyber Command

WordPress Fight Leads To New FAIR Manager

June 10, 2025

Latest Alerts

Fake Sora AI Lure Installs Infostealer

FIN6 Uses Fake Resumes To Hack Recruiters

Microsoft Fixes Exploited WebDAV Zero Day

Google Bug Exposed Any User’s Phone Number

Roundcube RCE Flaw Risks 84,000 Servers

New Skitnet Malware Arms Ransomware Gangs

Subscribe to our newsletter

    Latest Incidents

    BHA Hit By Ransomware But Races Continue

    Sompo Data Breach Puts 17.5M Records At Risk

    DDoS Disrupts Roularta Media In Belgium

    Texas DOT Breach Leaks 300K Crash Reports

    Illinois HFS Employee Phishing Leaks Data

    Cyberattack Disrupts UNFI Food Deliveries

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial