Brazilian Police Crack Down on $9.7 Billion Crypto Money Laundering Scheme, Freeze Nearly $15.8 Million in Assets

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September 13, 2024
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Brazilian Federal Police, in collaboration with the Federal Revenue Service, executed a sweeping operation codenamed Niflheim targeting three separate organizations involved in a massive cryptocurrency money laundering scheme. The operation resulted in the seizure and freezing of approximately $1.8 billion in assets. Since the investigation began in 2021, these organizations allegedly laundered up to $9.7 billion, primarily sourced from drug trafficking and smuggling. (Coinotag)

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