Brazilian police seize $28.8 million in cryptocurrency, according to reports.

After cracking down on an alleged financial pyramid scheme, Brazilian Federal Police seized R$150 million ($28.8 million) in crypto assets and made five arrests, according to a CNN report from Brazil.

- On Wednesday, police executed 15 search warrants, seizing R$19 million ($3.6 million) in cash, 21 luxury automobiles, high-end watches, and jewellery, according to CNN.

- Police were investigating an alleged financial pyramid scheme as part of "Operation Kryptos."

- Glaidson Acácio dos Santos, the owner of a bitcoin consultancy in Rio de Janeiro's Lakes Region, was among the five people arrested. Today is his court date for the custody hearing.

- “Glaidson Acácio's defence is aware of the arrest and has so far been denied access to the contents of the investigations,” his defence team said in a statement to CNN. We shall be able to express ourselves in a specific manner only after a thorough examination of all documentation.”

- In July, civil police in Brazil seized $33 million in a money laundering probe involving crypto exchanges in Sao Paulo and Diadema.

Leave a Comment :


We will provide you latest market updates and analysis, for that you can JOIN OUR TELEGRAM CHANNEL and get daily profit and more facilities. If you want to JOIN TELEGRAM CHANNEL, click here to join.