ChainCatcher reported that according to Bitcoin.com, the Brazilian Federal Police recently launched the "Nifheim Operation" and successfully destroyed three criminal organizations that used cryptocurrencies for money laundering. The operation involved Casillas do So, Sao Paulo, Fortaleza and the city of Brasil, and a total of 8 arrest warrants and 19 search and seizure warrants were issued.
Since 2021, the gangs involved have laundered more than $9.7 billion through cryptocurrencies, with the funds mainly coming from drug trafficking and smuggling. The Brazilian Federal Court froze $1.58 billion in assets and seized multiple vehicles and real estate. Police revealed that the gangs used shell companies to cover up the source of funds, which were then transferred to the United States, the United Arab Emirates, Hong Kong and China.
