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.