Brazilian police crack down on $9.7 billion money laundering scheme involving cryptocurrencies, freeze nearly $15.8 billion in assets

Odaily Odaily reported that the Brazilian Federal Police, in cooperation with the Federal Tax Service, carried out a comprehensive operation called Niflheim, targeting three different organizations that were involved in large-scale money laundering schemes using cryptocurrencies. The police seized and froze approximately $1.58 billion in assets in this operation. Since the investigation began in 2021, these organizations are alleged to have laundered up to $9.7 billion, with funds mainly coming from drug trafficking and smuggling. (Coinotag)