The Brazilian Federal Police (PF) launched the “Fluxo Oculto (Hidden Funds)” operation to investigate an underground financial network linked to tax fraud in the fuel industry. The investigation shows that the groups involved have collectively transferred more than 26 billion reais (about $4.6 billion) over the past four years, including cryptocurrency transactions worth approximately 365 million reais (about $650 million). Law enforcement has carried out 59 search warrants across five states, including São Paulo and Rio de Janeiro, and is investigating 6 fintech companies suspected of acting as “underground banks.” (Livecoins)