logo

Brazil Hits Crypto Laundering Ring With Major Raid and Seizures

By: bitcoin ethereum news|2025/05/03 13:45:01
0
Share
copy
Brazilian authorities have launched another sweeping crackdown on crypto-related crime with the execution of Operation Fantasos, a law enforcement initiative aimed at dismantling remnants of a money laundering network linked to one of the country’s largest crypto fraud cases. The operation , carried out on April 30, mobilized over 50 federal officers who raided multiple locations in Petrópolis and Angra dos Reis. Investigators seized more than $280 million in assets, including luxury vehicles, a boat, cash, digital assets, electronics, and high-end jewelry—items allegedly tied to associates of Douver Torres Braga, the figure behind the notorious Trade Coin Club scam. Braga, who is currently being prosecuted in the United States, is accused of orchestrating a Ponzi-style crypto investment scheme that defrauded investors of nearly $290 million. Operation Fantasos was not only designed to disrupt what remains of his laundering network but also to collect further evidence for the ongoing U.S. trial. The Brazilian Federal Police coordinated with several American agencies, including the FBI, Homeland Security Investigations, and the IRS Criminal Investigation division. Braga has pleaded not guilty to conspiracy and wire fraud charges, which could carry a sentence of up to 20 years if convicted. This latest action follows a series of aggressive enforcement efforts by Brazil to root out high-level crypto crimes. In late 2023, authorities executed Operations Alcacaria and Privilege, leading to dozens of raids and arrests tied to illicit exchanges offering crypto laundering services. A month earlier, another major bust targeted a network responsible for processing nearly $10 billion in laundered funds since 2021. Reporter at Coindoo Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics. Related stories Next article !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','1188189499475368');fbq('track','PageView'); Source: https://coindoo.com/brazil-hits-crypto-laundering-ring-with-major-raid-and-seizures/

You may also like

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?

Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

A VC from the Crypto world said AI is too crazy, and they are very conservative

Amid the Crypto frenzy and with investors who once missed out on Pinduoduo, a new AI fund called Impa Ventures was established, rejecting bubble narratives and adhering to a conservative "problem-first" strategy to seek real business value.

The Evolutionary History of Contract Algorithms: A Decade of Perpetual Contracts, the Curtain Has Yet to Fall

The ten-year evolution of perpetual contracts: from pulling the plug on 312 to the shocking short squeeze of TRB, a deep dive into the pricing machine that averages $200 billion daily, written with countless liquidations and real money, detailing the blood and tears of risk control theory.

Kicked out by PayPal, Musk aims to make a comeback in the cryptocurrency market

Cashtags generated a trading volume of 1 billion dollars just a few days after its launch, marking a strong start for Musk's super app strategy. For the cryptocurrency market, X's layout may be one of the most anticipated sources of retail growth after the meme coin craze subsides.

Solana ETF News: What Is a Solana ETF and Why Is Goldman Sachs Betting $108 Million on SOL?

Solana ETF news today shows Goldman Sachs disclosed a $108M position while total SOL ETF inflows reached $1.45B. Analysts now expect up to $6B in institutional demand as Solana trades 71% below its all-time high.

Bitcoin ETF News Today: $2.1B Inflows Signal Strong Institutional Demand for BTC

Bitcoin ETFs news recorded $2.1B inflows over 8 consecutive days, marking one of the strongest recent accumulation streaks. Here’s what the latest Bitcoin ETF news means for BTC price and whether the $80K breakout level is next.

Popular coins

Latest Crypto News

Read more