According to BlockBeats, on September 13, the Brazilian Federal Police launched the "Niflheim" operation to combat huge money laundering activities conducted through cryptocurrencies. The police seized and froze approximately $1.58 billion in assets.
The groups are alleged to have laundered up to $9.7 billion, mostly from drug trafficking and smuggling, since the investigation began in 2021. The operation illustrates the widespread use of cryptocurrencies in illicit activities, raising concerns about global regulation.