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[Yusra31]

Brazilian officials confiscated 33$ million from shell firms that allegedly utilised cryptocurrency exchanges to launder money according to Brazilian police reports. Six search warrants were obtained by Brazilian courts at properties linked to these shell businesses in Diadema and the Capital. Two individuals and 17 legal entities had their accounts frozen as a result of these orders.

According to the investigations multiple organisations exchanged enormous sums of money among themselves to deceive authorities and then used a crypto brokerage to convert these monies into cryptocurrency assets that can't be traced back to their source. According to the Brazilian police study, some of these trades only operate with the help of these shell corporations.

 

[Brain]

This is really getting serious dubious activities going on everywhere in the world. Just read about some syndicates laundering see millions of dollars unhindered. They need to be stopped

 

[Wisdom01]

I love the fact that they seized the money , because money laundering have been really high and cryptocurrency scams ,but since the government are putting concern on it ,it's going to reduce it ,they should also arrest the people who involve in such act ,which is very bad I think

 

[BullyMaguire]

That's clever. Glad that they outsmarted them it's a good message that even if they use crypto currency to erase their tracks it's still possible to stop and catch them.. given that a lot of people are using crypto currency as a way to scam. Im glad with news such as these because it can potentially scare them a bit

 

[Wisdom01]

That's clever. Glad that they outsmarted them it's a good message that even if they use crypto currency to erase their tracks it's still possible to stop and catch them.. given that a lot of people are using crypto currency as a way to scam. Im glad with news such as these because it can potentially scare them a bit

yeah most people feel since they are using cryptocurrency they would be able to bypass getting caught ,but am glad things have changed ,and they could get caught ,if they actually want to commit scams and others ,I love this development coming from the m

 

[a_jerobon]

That is such a huge amount of money seized from the money laundering investigation. This crime has become so common in most nations these days. The invent of cryptocurrencies has now become their greatest help in covering up large amounts of money laundered. I am glad though that the authorities are so vigilant and can be successful in their investigations.

 

[Horia_10]

They are always doing their best , but the illicit users do always try to rig the system and that is why try their best to get out of equation and act against the system , but they always get confined and don't get out of it then , the hackers will never learn and this is what you would expect them to do always actually

 

[Wisdom01]

That is such a huge amount of money seized from the money laundering investigation. This crime has become so common in most nations these days. The invent of cryptocurrencies has now become their greatest help in covering up large amounts of money laundered. I am glad though that the authorities are so vigilant and can be successful in their investigations.

more of these is really needed for the scammers to learn their lesson and those that that want to use cryptocurrency for illegal activities ,it's been too much lately ,if the authorities keeps bringing them out and arresting them to ,they would take precautions on scamming