Sao Paulo police arrest gang that used Bitcoin and Ethereum to launder R$300,000 fraud proceeds
- —Three temporary arrests and six search warrants were carried out in Sao Paulo on Oct. 28
- —About R$46,000 of the R$300,000 stolen was converted into BTC and ETH
- —The 14-day scheme used fake bank and security-agency calls, then split transfers to evade detection
- —Suspects face fraud, extortion, money laundering and organized crime charges
Why it matters: The case highlights how crypto is used to move stolen funds beyond the reach of court-ordered account freezes, adding pressure on exchanges' KYC controls.
Source: Livecoins