TechFlow news, on September 26, the Brazilian Federal Police launched "Operation Lusocoin" on September 24 to crack down on a transnational cryptocurrency money laundering ring headquartered in Dubai. The group is suspected of providing money laundering services for drug trafficking, smuggling, and terrorist financing, with an estimated total of around 50 billion reais in illicit financial flows.
Authorities executed 13 search warrants and 11 temporary arrest warrants, froze approximately 30 cryptocurrency wallets, and seized six vehicles and six properties. With assistance from institutions including Binance, they have successfully frozen cryptocurrency assets worth 22.5 million reais. The total value of assets involved is expected to exceed 3 billion reais.
