Operation Kryptolaundry Busts $500M Crypto Laundering Ring in Brazil
Brazil's Federal Police on Sunday carried out Operation Kryptolaundry, executing over 24 search and seizure warrants against a cryptocurrency-based money laundering organization active since 2021. Authorities tied the operation to Glaidson Acácio dos Santos, known as the "Bitcoin Pharaoh," and estimated the ring moved roughly $500 million through exchanges, wallets and intermediaries alleged to have facilitated the flow of illicit proceeds.
The bust highlights intensified enforcement against peer-to-peer and over-the-counter channels in Latin America and signals greater scrutiny for local crypto services. Investigators indicated asset seizures and ongoing prosecutions are expected; exchanges, OTC desks and P2P platforms should anticipate stronger AML demands and cooperation requests as authorities pursue recovery and criminal charges. The case may prompt faster compliance upgrades and increased KYC checks across Brazil's crypto ecosystem.