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Brazilian police dismantled a drug-trafficking money-laundering ring using cryptocurrency, arresting 13 people and freezing nearly $200 million in assets
PANews July 27 news, according to News.bitcoin, Brazilian authorities dismantled a drug trafficking ring that has smuggled more than 6.5 tons of cocaine to Europe since 2021. The group used cryptocurrency to launder money and conceal the funds it obtained from exporting drugs to Europe. The operation covered regions including São Paulo, Minas Gerais, Santa Catarina, and Espírito Santo, and involved 13 preventive arrests and 44 searches and seizures. The court ordered the seizure of assets and the freezing of property worth up to 1 billion reais (about $196 million).