Krutika Adani
Brazilian police seized $45,000 worth of crypto assets in a major raid targeting a criminal gang believed to be operated by prisoners behind bars.
Investigators suspect inmates coordinated the scheme from prison, extorting auto shop owners and using crypto to launder the illicit funds.
In Operation Timeo, 60 officers executed 11 search warrants in six cities, freezing $2.3M from suspect bank accounts.
Victims included small garage owners in cities like Novo Hamburgo and Estância Velha, who threatened to pay up or face attacks on their businesses.
Police confiscated multiple crypto wallets and a firearm, but haven’t disclosed the specific coins or tactics used to seize the digital assets.