Brazil Authorities Seize Country’s Largest Cryptocurrency Funds

ByEdward Thompson

Aug 31, 2021

Just recently, a major local financial pyramid scheme has been exposed by the Brazilian Federal Police. The Brazilian authorities acted extremely vigilantly in order to catch the operators of the scheme and bring them to justice.

According to the authorities, the financial scheme involved criminals that were involved in the transaction of cryptocurrencies. However, the Brazilian authorities in taking down the particular syndicate, and successfully confiscated a large number of cryptocurrencies.

The police authorities have shared information around the funds they have confiscated from the syndicate reportedly running the scheme. In the report, the authorities have confirmed that so far, they have managed to seize almost $30 million from the operators of the scheme.

The Brazilian authorities have confirmed that it is the largest cryptocurrency seizure that has been carried out in the history of Brazil.

The report on the particular case was even covered by the globally known news channel “CNN Brazil”. In the report, CNN Brazil reported that the local authorities in Brazil had been on this case for a while. They had launched a special mission, which turned successful after the seizure of a large number of cryptocurrencies.

According to the reporting channel, the local authorities had reportedly called the mission “Operation Kryptos”. Operation Kryptos involved the local authorities closely monitoring the operators of the pyramid scheme and bringing the fraudulent scheme to an end.

The local authorities mentioned in their report that the particular scheme was being run from the Rio de Janeiro area. The authorities revealed that the operation was one of the most difficult cases that they had to deal with.

According to the authorities, they had to raid several locations in the area before they were able to hit the right location. The local authorities reported raided 15 different locations in order to find the right one where the entire scheme was being operated from.

While carrying out the operation, the local authorities claim that they have managed to arrest five people. These people were directly involved in running the pyramid scheme and are now under the custody of the local authorities.

As a result of the operation, the authorities were successful in seizing the largest number of digital assets. At present, it is the largest crypto figure that has been seized by the local authorities in the entire South American region’s history. The authorities have confirmed that they have successfully seized $28.7 million worth of cryptocurrencies in the process.

The authorities have revealed that one of the five operatives of the scheme they have arrested is Glaidson Acacio. Acacio is reportedly a Bitcoin consultancy’s owner, which is located near Rio de Janeiro in Cabo Frio. The authorities have claimed that Acacio was the mastermind behind the pyramid scheme.

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