Brazilian Police Arrest 9 Suspects in Cocaine Trafficking Ring Using Crypto for Money Laundering

According to a July 23 announcement from the Brazilian Federal Police, the agency last week arrested nine people suspected of trafficking approximately 6.5 metric tons of cocaine and laundering billions of Brazilian reals through various methods, including crypto-enabled illicit money brokers. Authorities executed 13 pretrial detention warrants and 44 search-and-seizure warrants across four states. The suspects face charges including participation in a transnational criminal organization, international drug trafficking, and money laundering.
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