Brazil Probes Fintechs and Cryptocurrency Mining Operation

Authorities in Brazil have launched two separate investigations into financial institutions and cryptocurrency mining. In Rio's Complexo do Lins, police found around 30 computers set up for cryptocurrency mining. The investigation aims to determine where the equipment came from, whether it was using stolen electricity, and if it has ties to organized crime.

The operation targeted Comando Vermelho on May 22. Separately, six fintechs are being investigated for allegedly serving Primeiro Comando da Capital (PCC) and other criminal groups. The investigation uncovered 26 billion reais in atypical transactions over the 2022-2025 period.

The two investigations involve different financial activities: mining produces cryptocurrency, while fintech payment systems move existing funds. There is no evidence to suggest a shared network between the cases.