Main Takeaways
A phone-theft gang targeting crypto users has been recently taken down in São Paulo as a result of a joint law enforcement operation.
Binance’s Special Investigations team helped identify key suspects by tracing the flow of stolen digital assets with advanced blockchain tools.
Our commitment to security goes beyond our platform – we play our part by supporting law enforcement collaborations, training, and global investigations.
Cybercriminals might be getting bolder, but they’re no match for strong public-private partnerships forged to strengthen collaborative security. Earlier this year, Binance teamed up with the Public Prosecutor’s Office State of São Paulo (MPSP) to help dismantle the gang behind a series of digital crimes. The gang stole phones to access victims’ apps, personal data, and crypto accounts, then used the information gathered to commit digital fraud.
Following the Digital Trail
The operation, dubbed Operation Sleipnir, was led by CyberGaeco, the cybercrime division of São Paulo’s Public Prosecutor’s office. With support from our Special Investigations team using advanced blockchain tracking tools, investigators were able to follow the flow of digital assets and identify the key individuals involved.
On March 19, São Paulo authorities served search and seizure warrants in the city center, recovering approximately BRL 260,000 in cash and crypto assets, along with jewelry, documents, and devices – including phones identified as belonging to victims.
"The proactive support of the Binance team in Brazil was essential," said Lister Caldas Braga Filho, Public Prosecutor of CyberGaeco. "Cooperation between the public and private sectors is key in fighting crime, especially when it involves emerging technologies like blockchain."
“Working with CyberGaeco was seamless – their determination matched ours,” shared Renato Bastos, Binance’s Senior Investigations Specialist for the Americas. “This operation proves that when public and private forces unite, even the most sophisticated criminals can be tracked down.”
Operations like these have contributed to the decline in cryptocurrency transactions related to illicit activities in the last year. This is evidenced by the 2025 Chainalysis report on crypto crime, where the share of crypto addresses linked to illicit activity fell to just 0.14% in 2024, down from 0.61% in 2023.
Our Commitment to Collaborative Security
Security isn’t a goal – it’s a shared responsibility. That’s why we go beyond our platform to support global law enforcement. Whether it’s sharing insights, tracking suspicious flows, or helping recover stolen assets, we’re always ready to step in.
“Binance is committed to blocking and eliminating bad actors from the ecosystem, in a permanent and robust effort for the sustainable growth of the digital asset industry,” affirmed Guilherme Nazar, Binance’s Regional Vice President for Latin America, underscoring our long-term commitment to security.
Our support doesn’t stop at investigations. We’ve also been actively training and equipping Brazilian authorities, including the Federal Police and public prosecutors in Rio and São Paulo. This March, we joined the CNMP’s seminar in Brasília to discuss the role of crypto in fighting crime and why regulation matters more than ever.
Globally, our efforts have scaled. In 2024 alone, we supported over 65,000 law enforcement requests, trained more than 1,300 investigators from 80 countries, and helped protect 2.8 million users from fraud. We’ve even recovered over $88 million in stolen or misplaced assets.
Keeping users safe isn’t just part of the job – it is the job. And as the industry grows, so does our resolve to build a safer, stronger, and more secure crypto ecosystem for everyone.