Brazil Cracks Down on Crypto-Laundering Cocaine Cartel
Brazilian law enforcement has dismantled an international cocaine trafficking ring suspected of laundering billions in Brazilian reals through crypto-enabled illicit money brokers.
The Brazilian Federal Police conducted a large-scale operation last week, arresting nine individuals and executing warrants across several states.
The suspects are accused of moving 6.5 metric tons of cocaine and laundering billions of reais through various methods, including shell companies, luxury assets, real estate, and crypto-enabled money brokers.