The Brazilian Federal Police (PF), working with TRM Labs and Binance, have dismantled a major money laundering operation in an action called Operation Lusocoin. The crackdown, carried out on September 24, led to the seizure of R$22.5 million (about $4.3 million in USDT).
Authorities say the criminal group, led from Dubai, is suspected of moving over $9.3 billion from illegal activities, including drug trafficking. The investigation involved 13 search warrants, 11 temporary arrests, and the blocking of 65 bank and crypto accounts, alongside the seizure of vehicles and properties.
Tracing crime through crypto
The group reportedly used cryptocurrencies to bypass foreign exchange rules and launder illicit funds. With the help of Binance and TRM Labs, investigators traced and froze assets using blockchain analysis tools. This case shows how the transparency of public blockchains, when combined with private-sector expertise, can be used to fight financial crime.
Bigger picture
Operation Lusocoin highlights the growing collaboration between law enforcement and crypto companies. Experts say this public-private model could shape future regulations, encouraging stronger frameworks to improve compliance and security in the digital asset space.
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