Brazilian police have confiscated R $ 172 million ($ 33 million) in an investigation into money laundering through local cryptocurrency exchanges. The names of the exchanges were not disclosed.
Brazilian law enforcement carried out Operation Exchange in Sao Paulo and Diadem. According to the official statement, the judiciary authorized the freezing of accounts and the seizure of assets from two individuals and 17 companies. In the course of the investigation, $ 33 million was confiscated from criminal activities. The names of the people and the names of the companies were not disclosed.
The investigation revealed that cryptocurrency exchanges were buying and selling BTC to fictitious companies created to facilitate their creators’ access to the banking system. In five months, one of the exchanges made a $ 1.93 million crypto-asset deal with six firms, and eight other shell companies acquired $ 2.9 million worth of crypto in the same period.
According to law enforcement officials, the exchanges did not check the legality of the organizations or the origin of the transactions. In addition, the exchanges acted on behalf of a criminal organization involved in money laundering through cryptocurrencies. According to the investigation, the money was transferred to offshore companies and then returned to the country by simulating sales or service transactions.
The preliminary investigation showed that the companies conducted large transactions among themselves, and then sent money to intermediaries who bought cryptoassets and transferred private keys to their clients.
Recall that in the middle of the month, the British police confiscated crypto assets worth more than £ 180 million (about $ 250 million). This is the largest seizure of its kind in the UK and one of the largest in the world.
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