Brazilian Police seized $33M Crypto, Investigation Under Money Laundering
In a six search warrant across São Paulo, Brazilian Police authority seized around $33 million worth of crypto assets under money laundering activities.
Brazilian authorities police were doing the Investigation & search operation in Brazil’s São Paulo, in the suspicion of money laundering with the use of crypto assets. And they detected few companies which were involved in crypto money laundering criminal activities. The Investigators seized 172 million Brazilian real which have worth around $33 million in dollars.
According to the statement by the official source of Brazilian authorities, they did 6 search warrant Operation on Thursday 22 July. The two of them were significantly found to be involved in money laundering. These two places were Diadema and São Paulo. According to police, they got an order from the court for such a warrant and also they were authorised to seize the assets of 17 companies also. And also Brazil’s court ordered to block the Bank accounts of the two companies.
Their Investigation research also shows how these companies tricked the bank authorities by creating fake transactions. Actually they sold lots of Bitcoin to crypto Exchanges in the last five month.
It is also considered that there may be some chances that Exchange may be involved in this activity or known to be involved in illegal activities. Because these Exchanges traded $1.92 million dollars of bitcoin with six companies and companies showed fake transactions to show fair use. And another side eight companies did trade of $2.88 million.
Probably it is not a very simple thing, because every Exchange has the responsibility to check and investigate the big traders whether they are going perfectly under regulation or they are trying to trick Exchange & government authorities.
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