Brazilian police dismantle $196M crypto laundering ring

• Brazilian police have dismantled a money laundering network linked to cocaine trafficking.
• Authorities said the operation involved about $196 million in illicit funds, including cryptocurrency.
• The investigation targeted a criminal organisation accused of laundering drug proceeds.

Brazilian police have dismantled a money laundering network that allegedly processed about $196 million from cocaine trafficking using cryptocurrency and other financial channels.

The operation, known as Operation Commodity, targeted a criminal organisation accused of disguising illicit funds through crypto transactions and commercial businesses.

Authorities carried out search warrants and asset seizures as part of the investigation into the alleged laundering scheme.

Police said the network used cryptocurrency alongside traditional financial methods to move and conceal proceeds from drug trafficking.

Investigators continue to examine the flow of funds and identify additional people connected to the organisation.

The case highlights the growing use of digital assets in financial crime investigations alongside conventional money laundering techniques.