Brazilian Police Bust Major Crypto Money Laundering Scheme Linked to Drug Cartel
08.08.2024 22:00 1 min. read Alexander Stefanov
São Paulo's Civil Police have uncovered and dismantled a major money laundering operation linked to the drug cartel First Capital Command (PCC).
The operation was disguised as a cryptocurrency exchange, handling around 500 million reais (approximately $89 million).
During the crackdown, police seized checks totaling 55 million reais ($8.9 million) from the company’s undisclosed headquarters.
The raids, which followed orders for 20 arrests and 60 search and seizure operations, targeted individuals connected to the PCC across various cities in São Paulo.
In related actions, Brazilian courts have frozen over 8 billion reais ($1.427 billion) in assets tied to the suspects.
The First Capital Command, described by The Economist as Latin America’s largest gang, boasts nearly 40,000 members and around 60,000 affiliates.
-
1
Hackers Target UK Official’s Account in Crypto Scam Disguised as Government Project
17.04.2025 9:00 2 min. read -
2
Hacker Returns $7.5M in KiloEx Breach After Bounty Deal
19.04.2025 15:00 2 min. read -
3
Former Celsius CEO Alex Mashinsky Set for Sentencing Next Month
24.04.2025 16:00 2 min. read -
4
DeFi Protocol Loopscale Hit by Exploit, Pauses Key Functions
27.04.2025 17:30 2 min. read -
5
Coinbase Users May Have Lost $46 Million to Rising Phishing Scams
01.04.2025 15:53 2 min. read
DeFi Protocol Loopscale Hit by Exploit, Pauses Key Functions
Loopscale, a decentralized finance platform built on Solana, was forced to pause its lending operations after a major security breach led to losses of around $5.8 million.
Former Celsius CEO Alex Mashinsky Set for Sentencing Next Month
Alex Mashinsky, co-founder and former CEO of the defunct crypto lending platform Celsius, is scheduled to be sentenced on May 8, 2025, following his guilty plea to two federal criminal charges late last year.
Hacker Returns $7.5M in KiloEx Breach After Bounty Deal
A decentralized exchange targeted in a multi-million-dollar exploit has recovered its losses just days after the incident, thanks to an unexpected twist involving the hacker themselves.
Hackers Target UK Official’s Account in Crypto Scam Disguised as Government Project
A recent cyberattack targeting a UK government official’s social media account has highlighted ongoing concerns over digital impersonation and crypto scams.
-
1
Hackers Target UK Official’s Account in Crypto Scam Disguised as Government Project
17.04.2025 9:00 2 min. read -
2
Hacker Returns $7.5M in KiloEx Breach After Bounty Deal
19.04.2025 15:00 2 min. read -
3
Former Celsius CEO Alex Mashinsky Set for Sentencing Next Month
24.04.2025 16:00 2 min. read -
4
DeFi Protocol Loopscale Hit by Exploit, Pauses Key Functions
27.04.2025 17:30 2 min. read -
5
Coinbase Users May Have Lost $46 Million to Rising Phishing Scams
01.04.2025 15:53 2 min. read
