Brazil

Brazil’s biggest banking breach ever just went down — over $180 million drained from top institutions like Bradesco and Credsystem using a flaw in C&M’s financial software. 🚨

Hackers hijacked bank accounts linked to BMP and instantly moved the funds out using Pix, Brazil’s instant payment system. From there, it was a crypto highway: USDT and BTC used to clean the stolen cash through local exchanges. 🧼💸

The Central Bank cut off access but didn’t report full losses. Insiders say it's already too late — the funds are gone. 🏴‍☠️

"If they don’t fix the core messaging system, this will happen again." — Rocelo Lopes, Smartpay CEO

Brazil’s banking system just got exposed on a massive scale.

#Bitcoin #CryptoNews #Brazil #HackAlert $BTC
$USDT $BNB
#Pix #Binance #CyberSecurity

According to local media, this may be the largest hack ever perpetrated against the Brazilian banking system. Attackers leveraged USDT and bitcoin to cash out through exchanges and crypto institutions, using instant payment systems such as Pix.

Brazilian Banking System Exploited: Attackers Cash out Using Crypto
The Brazilian banking system has faced what might be the largest attack ever perpetrated against several of its institutions. On Tuesday, local media reported that C&M, a company that provides financial software to several large financial institutions in Brazil, including Bradesco, the second-largest bank in the country, had been attacked.
The unidentified party exploited a vulnerability in C&M’s software that allowed it to take control of several accounts linked to BMP, a banking-as-a-service provider. This allowed them to take millions of reais from institutions like Bradesco and Credsystem, another institution that provides credit card services.
While the Central Bank of Brazil acknowledged the attack happened and has disconnected C&M’s access to the system, there have been no official reports detailing the actual losses caused by this exploit.
Sources report that losses could reach up to 1 billion reais (over $180 million), which would already be out of the reach of these institutions, as hackers took quick action to move these funds outside the system using Pix, the Brazilian instant payment system.
To this end, the attackers took advantage of the popularity of this payment system and directed the stolen funds to several cryptocurrency exchanges supporting this feature to launder the funds. Part of the money was exchanged through these Brazilian platforms for bitcoin and Tether’s USDT.
Rocelo Lopes, CEO of Smartpay, criticized the vulnerability of the Brazilian banking system, which lacks the needed guardrails to stop this kind of attack in its tracks.
In statements offered to Brazil Journal, he stressed:
The heart of the problem is in the messaging. If they don’t change this, it will happen again, and other institutions will have problems. It really strikes me that there were no security protocols in place to stop this.

#Binance #wendy #Brazil $BTC $ETH $BNB

#binance
Binance Secures Regulatory Authorization in Brazil, Its 21st Globally
Main Takeaways
Binance has secured approval from the Central Bank of Brazil for the acquisition of a locally licensed broker-dealer institution in Latin America’s most populous country, marking its 21st global regulatory milestone and solidifying its status as the most licensed cryptocurrency exchange worldwide.

Binance CEO Richard Teng highlighted Brazil's burgeoning crypto adoption and emphasized the company's commitment to providing a secure and innovative platform for local users.

Binance's regulatory milestone in Brazil follows similar achievements in Argentina, India, Kazakhstan, and others, highlighting its commitment to growing crypto adoption in a responsible and sustainable manner.

In a development that underscores Binance’s commitment to adhering to the highest regulatory standards both globally and regionally, we have recently secured approval from the Central Bank of Brazil for the acquisition of Sim;paul, a broker-dealer licensed in Latin America’s most populous country. This achievement marks our 21st global regulatory milestone, further solidifying our status as the cryptocurrency exchange with the greatest number of licenses, registrations, and authorizations across the world.

Brazil: Embracing the Future of Finance
By receiving full approval for the takeover of Sim;paul – a licensed broker-dealer authorized to distribute securities and to issue electronic money (EMI) by the Central Bank of Brazil, Binance, which was already operating in compliance with the regulatory requirements in the country as a global exchange, can be more efficient in complying with the ongoing regulatory advancements. The approval also makes Binance the first crypto exchange to have a broker-dealer license in Brazil.

Richard Teng, Binance's Chief Executive Officer, highlighted the importance of this achievement, saying, "We are thrilled to announce our latest regulatory approval. A market with burgeoning crypto adoption, Brazil is home to a vibrant and dynamic community that is readily embracing the future of finance. We thank local regulators for their commitment to defining clear rules for this important, growing industry. This approval underscores our commitment to compliance and security, and we look forward to continuing to provide our local users with a secure, reliable, and innovative platform for their digital-asset needs."

Ranking 10th in Chainalysis global adoption index, Brazil is taking a forward-looking approach to setting specific rules for the crypto industry. The Central Bank and the Brazilian IRS have published proposals for a dedicated regulatory framework, putting it up for public consultations for market participants and experts to make suggestions, while in Congress legislators discuss federal bills on asset segregation and stablecoins, which are also relevant for the sector.

Guilherme Nazar, Head of Latin America for Binance, commented, “This approval marks a significant milestone in our ongoing commitment to expanding our products and services in Brazil. It highlights our dedication to compliance and regulatory excellence while enhancing our ability to provide secure and innovative financial solutions to our growing user base in the country. We look forward to taking this opportunity to further drive the adoption of digital assets and deliver unparalleled value to our clients in Brazil."

Starting 2025 on a High Note
Binance's registration in Brazil follows other recent regulatory advancements across the globe this year, including in Argentina, India, Kazakhstan, and Indonesia. This dynamic showcases Binance’s sustained global momentum and adds to previously secured licenses, registrations, and authorizations in jurisdictions like Dubai, France, Japan, El Salvador, and others.

In line with its global standards, our compliance program includes robust anti-money laundering (AML) policies and controls and a comprehensive framework for combating the financing of terrorism (CFT). In addition to that, key components of Binance's compliance program include robust identity verification processes (Know Your Customer and Know Your Business, or KYC and KYB) and the industry-leading Financial Crime Compliance (FCC) unit, designed to assist law enforcement in investigating crypto asset-related crimes and capacity building, thereby strengthening the collaborative security of the ecosystem.

Furthermore, we have expanded our global compliance team by 34% to 645 full-time employees, including strategic senior hires. We employ over 1,000 compliance staff and contractors, ensuring that we dedicate sufficient resources to drive Binance and the larger crypto ecosystem’s growth sufficiently and responsibly.

Further Reading
Binance Records Its 20th Global Regulatory Milestone With Registration in Argentina

Binance Achieves Its 19th Global Regulatory Milestone With Registration in India

Binance Kazakhstan: The First to Secure a
Full Regulatory License From AFSA
#Brazil

🚨🔥 BREAKING NEWS: World’s First Spot XRP ETF Approved in Brazil! 🇧🇷🚀
This is a MASSIVE milestone for XRP and Ripple after years of legal battles ⚖️ and challenges. Here’s why this is a GAME-CHANGER for the crypto world:

✨ Why This is HUGE for XRP:
✅ First Spot XRP ETF Ever – Brazil is leading the way in crypto innovation, setting a precedent for other countries to follow. 🌍
✅ Mainstream Adoption – ETFs make it easier for institutional and retail investors to gain exposure to XRP without directly holding the asset. 💼📈
✅ Regulatory Confidence – After years of legal battles with the SEC, this approval signals growing trust and legitimacy for XRP. ⚖️✅
✅ Increased Liquidity – The ETF will likely drive more trading volume and liquidity for XRP, boosting its market presence. 💧📊
✅ Global Ripple Effect – This could pave the way for similar ETFs in other countries, opening doors for global adoption. 🌐🚪

💡 What This Means for the Crypto Market:
🔥 XRP Price Potential – With increased accessibility and demand, XRP could see significant price movement. 📈💎
🌱 Ripple’s Growth – Ripple’s ecosystem and partnerships could expand further, solidifying its position in the crypto space. 🤝💼
🎯 Crypto Legitimacy – This approval reinforces the growing acceptance of cryptocurrencies in traditional financial systems. 🏦🔗

🚀 The Future Looks Bright for XRP!
Let’s celebrate this historic moment and watch how this unfolds for the crypto world. 🌟
👇 What do you think? Will this spark a wave of XRP ETFs globally? Let’s discuss! 💬
#XRP #Ripple #Crypto #ETF #Brazil #ToTheMoon 🚀🌕

Last year, *Elon Musk* pulled back the curtain on some seriously unsettling revelations in Brazil. 😳 While most of us were just keeping up with the latest crypto tweets, something bigger was happening behind the scenes.

*Brazil's Supreme Court* was exposed for *secretly issuing orders* to silence opposition voices, and *Justice Alexandre de Moraes*, the main architect of Brazil's internet crackdown, accused Elon of *“obstruction of justice”*. 🧐 To make matters worse, *Brazil temporarily banned X (formerly Twitter)* in response to these tensions.

But here’s where it gets even crazier... 💥

*Mike Benz*, a former State Department official, revealed that *USAID* (U.S. Agency for International Development) had been funneled taxpayer money to *left-wing groups* with one specific agenda: *censorship*. 🇺🇸💰 These groups were actively trying to control narratives and even influenced the *2022 Brazilian elections*.

At first, many dismissed this as a *conspiracy theory*, but then, *DOGE* (Elon Musk’s favorite) exposed something even bigger. It turned out that *USAID* had been *funding censorship efforts globally*, with billions being spent to control *media narratives* and push for more *internet censorship* worldwide. 🌍📉
And here’s the kicker—*Elon Musk* paid over *$10 billion in taxes* 💸, only for *USAID* to use *taxpayer money* to *fund censorship efforts* that directly targeted him and his defense of *free speech*. 🧐💡

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*What Does This Mean?*

- *Elon’s Efforts for Free Speech*: Elon Musk has always been vocal about *freedom of speech*. But when he called out the hidden censorship tactics, it not only cost him personally, but also exposed the massive power structures at play, controlling what we see and hear. 📢

- *Global Influence*: The *USAID* revelations are part of a *larger global issue* where governments use *taxpayer money* to influence and control narratives. These moves are not just *isolated* but part of a *worldwide agenda*.

- *Censorship Pushback*: Elon’s pushback shows that sometimes, standing up for free speech can lead to massive backlash from powerful forces. But it also serves as a warning of what happens when *big powers* control the flow of information. 🕵️‍♂️

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*Let That Sink In...*

Elon Musk was not only *fighting censorship* but also confronting a global system funded by *your taxpayer dollars*—a system that went after him for promoting *free speech*. 😲

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*Stay informed. Stay vigilant. The battle for free speech is more complex than we think.*

$DOGE

#ElonMusk #Censorship #Brazil #CryptoNews #DOGE