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Brazil police seize $1B in assets in crypto-linked drug laundering case

News Snapshot:

Brazil has launched a nationwide operation targeting an alleged transnational drug trafficking and money laundering network that investigators say used crypto brokers, shell companies and luxury assets to conceal up to R$1 billion in illicit proceeds. Summary Brazil has launched a nationwide operation targeting an alleged drug trafficking and money laundering network that investigators say used crypto brokers. Authorities froze up to R$1 billion in assets while carrying out arrests and searches across four Brazilian states. Investigators allege the group shipped about 6.5 tons of cocaine to Europe since 2021 using concealed cargo methods. The Federal Police said the network…

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