Brazil Has Launched an Operation on Cryptocurrency Exchanges

Brazil has launched an operation on cryptocurrency exchanges. 175 million reals, ie 33 million dollars, were seized in the operation.

As part of the money laundering operation in Brazil, 175 million reals, or 33 million dollars, were seized. According to the statement made by the Brazilian police, it was determined that there are more than ten companies involved in money laundering activities. While the legal status of some of these companies is unclear, it has been determined that some of them are cryptocurrency exchanges. In the operation, called the "Exchange Operation", it was revealed that 17 fake companies aimed to transfer the money across the ocean. The investigation found that cryptocurrency exchanges buy Bitcoin and sell it to fictitious companies created to facilitate access to the banking system. Police revealed that over a five-month period, one of the exchanges traded $1.93 million in digital assets with six fake companies, while eight other companies bought $2.9 million in crypto over the same period. Brazilian police carried out a similar operation earlier this month. In this operation, called "Operation Satan", 1.5 billion Brazilian reals (worth $300 million) were seized. It was reported that approximately seven thousand people were defrauded. It took the police more than three years to complete Operation Satan.