Brazilian Federal Police Crack Down On Major Cryptocurrency Money Laundering Operation

According to BlockBeats, on September 13, the Brazilian Federal Police launched an operation named 'Niflheim' to combat large-scale money laundering activities conducted through cryptocurrencies. The operation targeted three major organizations, resulting in the seizure and freezing of approximately $1.58 billion in assets. Since the investigation began in 2021, these organizations are alleged to have laundered up to $9.7 billion, with funds primarily sourced from drug trafficking and smuggling. This operation highlights the extensive use of cryptocurrencies in illegal activities, raising concerns about global regulatory measures.