Brazilian Police Dismantle $500M Crypto Laundering Ring Linked to ’Bitcoin Pharaoh’
Brazilian federal police executed 24 search warrants nationwide in 'Operation Kryptolaundry,' targeting a cryptocurrency laundering network allegedly connected to Glaidson Acácio dos Santos, the convicted mastermind behind the 2021 Gas Consultoria pyramid scheme. The ring reportedly laundered R$2.7 billion ($500 million) through shell companies and digital assets, with R$404 million ($75.5 million) identified as illicit proceeds.
Authorities say the group mimicked Santos' modus operandi, luring victims via social media campaigns and fake investment seminars. Promising high returns on 'safe' crypto investments, the operation functioned under the veneer of legitimate businesses while funneling funds through mixed wallets and offshore accounts.
