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Brazilian Federal Police Freeze $196M in Assets from Drug Ring Laundering Money Through Crypto

GateNews
Enforcement ActionsSecurity Incidents
According to ChainCatcher, Brazilian federal police froze approximately 10 billion reals (about $196 million) in assets yesterday as part of Operation Commodity targeting a drug trafficking ring that used cryptocurrencies to launder proceeds. The gang smuggled over 6.5 tons of cocaine from Rio de Janeiro to Europe since 2021. Law enforcement executed 13 preventive arrests and 44 search warrants across multiple states. Police said the group was linked to major criminal organizations and operated through a luxury car dealership and shell companies in greater São Paulo, using fake invoices to funnel drug profits into the financial system before converting them to crypto.
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