Last month it had made a similar operation in which it seized USD $33 million in crypto.
Brazil’s Federal Police seized $150 million reais (equivalent today to USD $28.8 million) in cryptoassets and made five arrests after cracking down on an alleged financial pyramid scheme, according to a CNN
Brazilian authorities carried out 15 search warrants and also seized $19 million reais (USD $3.6 million) in cash, 21 luxury vehicles, high-end watches and jewelry on Wednesday, CNN said.
The operation dubbed “Operation Kryptos”
involved police investigating an alleged financial pyramid scheme.
In addition, police made five arrests, including Glaidson Acácio, owner of a Bitcoin
consultancy based in Rio de Janeiro’s Lake Region. He has a custody hearing today.
According to investigations, he is suspected of moving billions in an alleged financial pyramid scheme, whose promise was to return up to 15% of the amount invested by customers. In addition to Rio, the arrests took place in Cabo Frio and two at Guarulhos airport in São Paulo.
Likewise, the team of lawyers defending Acácio issued the following statement to CNN: “Glaidson Acácio’s defense is aware of the arrest and so far does not have access to the content of the investigations. Only after a proper analysis of all the documentation will we be able to express ourselves concretely”.
In July this year, Brazil’s civil police seized USD $33 million in a money laundering investigation conducted through crypto exchanges in Sao Paulo and Diadema. DiarioBitcoin
wrote that the operation involved six search warrants in different locations across the huge territory of the South American nation. These searches were aimed at finding shell companies using cryptocurrency exchanges for alleged money laundering purposes. The warrants resulted in different account blockades of two individuals and 17 legal entities.