- Police make seven arrests, including suspected ringleader.
- Officers raided addresses in three states.
- Crypto-powered money laundering crackdowns becoming more frequent.
Brazilian police say they dismantled a crypto-powered money laundering network on January 20, with officers freezing or confiscating $126 million worth of cash and other assets.
The network laundered money for criminal groups based both in Brazil and abroad, federal police said in a statement. Officers did not mention which cryptocurrencies the group allegedly used.
“The network has moved more than [$7.3 million] worth of illicit funds through coordinated operations involving affiliates and shell companies,” police said.
The operation, codenamed Narco Azimut, is the latest in a series of crackdowns on the use of crypto in Brazilian money laundering rings.
Last month, a court jailed 14 individuals for using Bitcoin and other tokens to launder $95 million in drug money and kidnapping ransoms.
Two ringleaders will remain behind bars for 21 years.
Seven arrested
Police say Operation Narco Azimut is in full swing. Officers raided addresses in six cities in the states of São Paulo, Goiás, and Rio de Janeiro, arresting seven people.
Officers say they’ve arrested the group’s suspected mastermind, Davidson Praça Lopes, the Brazilian media outlet UOL reported. They also detained several intermediaries who worked with crypto wallets and shell companies, and people who executed bank transfers on behalf of the group.
The crackdown is an extension of last year’s Operation Narco Bet, officers said. This previous operation, launched in 2025, “exposed a highly organized criminal group engaged in large cash transactions, shell company bank transfers, and cryptocurrency transactions” for drug traffickers and illegal betting sites.
Police launched investigations into the group after navy officers seized a sailboat loaded with cocaine on the high seas near Africa.
A court in the city of Santos ordered police to seize the group’s assets and block the suspects from “conducting business or transferring property linked to the alleged crimes.”
Officers said they confiscated vehicles, cash, documents, and equipment during their raids. They added that all of the arrest warrants were successfully implemented.
The suspects are set to face charges of organised crime, money laundering, and tax evasion.
Tim Alper is a news correspondent at DL News. Got a tip? Email at tdalper@dlnews.com.
