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.
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