A sophisticated cyber attack on C&M Software, a technology supplier for the Central Bank of Brazil, sparked a wave of crypto whitening, with at least 40 million dollars of stolen funds channeled in Bitcoin, Ethereum and Stablecoins.
The main dishes to remember:
- The pirates stole nearly $ 148 million in Brazilian banks by emptying C&M Software systems.
- According to Zachxbt, at least 40 million dollars were bleached in Bitcoin, Ethereum and Stablecoins.
- The authorities frozen $ 50 million linked to the hack, but a large part of the stolen crypto remains missing.
Blockchain investigator, Zachxbt, pointed out laundering after following large sums moving through offices and over -the -counter exchanges from Latin America.
The attack is one of the most important financial violations in Brazil to date.
Pirates target C&M, key link to the Brazil Pix payment network
The pirat has targeted C&M, a key intermediary connecting small banks and financial technologies to the central bank infrastructure, including Pix, the largely used instant payment system in the country.
According to Brazilian authorities, the pirates have operated skills titles sold by João Nazareno Roque, a 48 -year -old IT worker at C&M, who received the equivalent of $ 2,770 for its business connection details.
The local media G1 Globo reported that Roque was not only sold his references; He also helped build a system to facilitate theft, making an additional payment of around $ 1,800.
Using this interior access, the hackers orchestrated a coordinated attack at the beginning of June 30, which is around 800 million reais, or nearly $ 148 million, reserve accounts of six financial institutions.
Fraudulent transfers remained unteashed for almost two and a half hours. The violation was only revealed when BMP, one of the affected institutions, reported suspicious transactions.
BMP CEO Carlos Benitez said his bank had lost approximately $ 73.8 million, but managed to recover around 29.5 million dollars.
A Brazilian court has since frozen accounts suspected of having received stolen funds, recovering around $ 50 million so far.
However, the complete extent of the laundering operation remains under study, with significant sums that are still not recorded.
Following the incident, the central bank suspended certain parts of C & M access to its systems while the authorities worked to contain the damage.
Roque was arrested on July 3, two days after hacking, and remains in detention when the investigation continues.
The officials said that no retail customer had undergone direct losses, as the stolen funds were limited to institutional reserve balances held at the Central Bank.
Crypto networks emerge as an escape route for crimes
The last violation highlights the growing fears of the role of crypto as conduit for conventional financial crimes.
Digital assets offer liquidity and a pseudonymat level that traditional cash transactions cannot correspond, allowing rapid movement of illegal funds on a large scale.
Stablecoins, in particular, drew the attention of criminal networks.
The Financial Action Task Force has recently warned that stablecoins pose growing risks when used by illicit groups, in particular in the absence of coordinated global surveillance.
The recent Brazilian reflects a series of high -level flights linked to cryptography this year, including the northern record of $ 1.46 billion in statement piracy and the Chinese authorities to dismantle a laundering ring of $ 136 million which used digital currencies for the flow of cross -border money.
However, Brazilian officials are now trying to retrace the stolen funds in various blockchain networks, to coordinate with international agencies to freeze assets and identify those responsible for one of the largest financial cyberattacks in the country.
The Central Bank Hack of Brazil is aroused crypto whitening of $ 40 million in BTC, ETH appeared first on Cryptonews.
