Brazilian Police confiscate Crypto worth $33M from money launders

The Brazilian police have recovered R$172 million ($33 million) following a money-laundering investigation into some crypto exchanges.

A court issued 6 search warrants and ordered the seizure of accounts and assets belonging to two individuals and 17 companies after it was revealed that the exchanges purchased and sold bitcoin for “fictitious/disreputable” firms.

Officials of the Department of Protection Police Citizenship (DPPC ) carried out operation “Exchange Transaction” last Thursday in Diadema and Sao Paulo.

One of the exchanges carried out unverified digital assets transactions with six faux firms worth $1.93 million over five months. Eight faux companies earned $2.9 million worth of Crypto in a separate transaction over the same period. 

Further inquiry showed that the companies performed large transactions among themselves and sent the funds to middle-men who purchased digital assets and delivered hash codes to their patrons.

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About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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