đ¨ **Breaking Crypto News!** đ¨
Brazilian authorities have busted a massive $9.7 billion crypto laundering scheme, arresting suspects across SĂŁo Paulo, Fortaleza, and BrasĂlia. Dubbed âOperation Niflheim,â the crackdown targeted a network using crypto to launder funds from criminal activities like drug trafficking.
- **Key Details:**
- 23 search and 8 arrest warrants executed
- Two companies in Caxias do Sul moved $6.4 billion between 2019-2021
- Funds transferred abroad to the U.S., Hong Kong, and UAE
A federal court has frozen $1.58 billion in bank and crypto exchange funds. đ¸
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