🚨 **Breaking Crypto News!** 🚨

Brazilian authorities have busted a massive $9.7 billion crypto laundering scheme, arresting suspects across São Paulo, Fortaleza, and Brasília. Dubbed “Operation Niflheim,” 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. 💸

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