Brazil’s Central Bank Probes $140M Crypto Laundering After Hack.
$140M Cyber Heist Hits Brazil: Hackers stole $140M from six banks via C&M Software, with some funds laundered into crypto.
Insider Betrayal Uncovered: C&M employee João Roque admitted selling access credentials, enabling the massive breach.
In a cyber heist on June 30, hackers stole approximately $140 million (R$800 million) by breaching the reserve account of six Brazilian financial institutions through infrastructure provided by C&M software. The Central Bank of Brazil is actively working to recover the funds after discovering the offender.
Central Bank’s Immediate Action Against the Crime
After discovering the theft and the attacker, the central bank immediately issued a notice for a temporary suspension of C&M Software. By Wednesday, the company resumed limited operations under supervision.
The federal police have opened an investigation at the Cybercrime Repression Department in Brasilia, investigating stolen funds and preventing further laundering in the chain. Currently, the police are investigating a series of questions about those responsible for the hacker attack, and other beneficiaries of the scam are being investigated.
Discovery of Brazil’s Cyber Theft of $140 Million
Approximately $140 million was theft by hacking C&M software, the service provider that connects Brazil’s central bank to local banks and other financial institutions. At least $30 to $40 million of the stolen funds were converted into cryptocurrencies, including Bitcoin, Ethereum, and Tether.
This conversation of fiat money into crypto was carried out via Latin American over-the-counter (OTC) brokers and crypto exchanges. Brazilian officers suspected a laundering route tied to Brazil’s PIX payments infrastructure (a system developed by the central bank to enable instant payments).
