Brazilian federal police raid the group using crypto to launder money from illegal gold mining.
In the Brazilian state of Rondonia, five people were arrested in an operation targeting health companies that laundered money from illegal gold mining.
According to police, the group used cryptocurrency to launder billions of dollars.
According to Reuters, the tokens created by one of the front companies in its group were used to “represent the amounts resulting from the extraction of illegal gold as third-party investments.”
According to the news, in the analysis made by the federal police, more than $3 billion was moved in the bank accounts of the group in question between 2019 and 2021.
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