• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Brazilian Authorities Seize $1.6B in Crypto and Fiat in Operation Niflheim

user avatar

by Giorgi Kostiuk

10 months ago


  1. Seized Assets
  2. Criminal Networks and Shell Companies
  3. Future Regulatory Implications

  4. Brazilian authorities have seized cryptos and fiat currencies worth the equivalent of $1.6 billion in a major operation against international money laundering. The operation, named "Niflheim," is a joint effort by the Federal Police and the Federal Revenue Service.

    Seized Assets

    Operation Niflheim has already led to the seizure of cryptos and fiat currencies worth $1.6 billion. However, as the investigation continues, the total amount frozen may reach 9 billion reals ($1.8 billion). Over the past three years, crime groups have laundered about 55 billion reals ($9.8 billion) using crypto assets. The cash was moved through a network of crypto wallets and bank accounts to recipients in China, the UAE, the United States, and Hong Kong.

    Criminal Networks and Shell Companies

    The investigation revealed that the criminal groups operated shell companies to hide the sources of illicit funds linked to drug trafficking and human smuggling. These groups carried out their activities in various cities such as Caxias do Sul, São Paulo, Brasília, and even the USA. The police seized cars, real estate, and other significant assets of these groups. Several arrest warrants were also issued against key suspects whose networks had connections in Orlando, Florida.

    Future Regulatory Implications

    The scale of the operation highlights the challenges authorities face in combating criminal activities involving cryptocurrencies. Law enforcement will likely implement stricter mechanisms for tracing illicit virtual transactions and money laundering. Organized crime groups increasingly exploit the decentralized nature of cryptocurrencies. Success in Operation Niflheim may encourage other countries to develop methods for tracking and controlling these illegal financial activities.

    Operation Niflheim exposed a massive money-laundering scheme involving cryptocurrencies and underscores the need for stricter regulation and oversight of virtual assets by authorities.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Bullish, the Crypto Exchange Backed by Peter Thiel, Prepares for IPO

chest

Bullish has filed for IPO, seeking to enter the public market and compete with major players.

user avatarGiorgi Kostiuk

USDC Use on Stellar and Its Impact on XLM Value

chest

Statistics show a rise in USDC transactions on Stellar, indicating growing utility that fuels speculation on XLM prices.

user avatarGiorgi Kostiuk

Litecoin Records New Open Interest at $761 Million. Is LTC Heading to $120?

chest

Litecoin has reached a new record open interest of $761 million, and 66.3% of addresses are in profit, raising hopes for a price increase to $120.

user avatarGiorgi Kostiuk

World Liberty Announces WLFI Token Launch Valued at $16 Billion

chest

WLFI token by World Liberty plans to debut with a $16 billion valuation, with significant backing from DT Marks DEFI LLC.

user avatarGiorgi Kostiuk

Impact of GENIUS Act: Trump Establishes Federal Stablecoin Guidelines

chest

President Trump has signed the GENIUS Act, establishing federal regulations for stablecoins and impacting the U.S. crypto landscape.

user avatarGiorgi Kostiuk

New Opportunities in the Meme Cryptocurrency Market: Troller Cat Gaining Popularity

chest

Exploring the rise of Troller Cat amid shifts in meme cryptocurrencies and the current status of Shiba Inu and Pepe.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.