Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH
2025-07-06 09:35:01
Main Idea
A cyberattack on C&M Software, a technology provider for Brazil’s Central Bank, led to $148 million stolen from Brazilian banks, with $40 million laundered through Bitcoin and Ethereum.
Key Points
1. Hackers exploited credentials sold by an IT worker at C&M Software, João Nazareno Roque, for $2,770, gaining access to Brazil’s PIX payment network.
2. Approximately $148 million was stolen from reserve accounts of six financial institutions, with $40 million funneled into cryptocurrencies.
3. One affected bank, BMP, lost $73.8 million but recovered about $29.5 million; authorities have recovered $50 million so far.
4. The breach was discovered when BMP flagged suspicious activity, leading to the suspension of C&M’s access to the Central Bank’s systems.
5. Roque was arrested on July 3, while the full scope of the laundering operation remains under investigation.
Description
A sophisticated cyberattack on C&M Software, a technology provider for Brazil’s Central Bank, has triggered a wave of crypto laundering, with at least $40 million in stolen funds funneled into Bitcoin, Ethereum, and stablecoins. Key Takeaways: Hackers stole nearly $148 million from Brazilian banks by breaching C&M Software’s systems. At least $40 million was laundered into Bitcoin, Ethereum, and stablecoins, according to ZachXBT. Authorities froze $50 million linked to the hack, but much of the ...
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