🚨 Hackers Steal R$ 1 Billion and Attempt to Launder Money with Cryptocurrencies: Attack on C&M Software Exposes Risks in the Financial System
The Brazilian financial ecosystem was shaken by a large-scale hacker attack that resulted in the theft of over R$ 1 billion from accounts held at the Central Bank. The target was C&M Software, a company that provides technological infrastructure for various financial institutions.
According to Brazil Journal, only one partner institution of C&M had R$ 500 million diverted. In total, at least six institutions were impacted. The case is already being investigated by the Federal Police and forced the Central Bank to suspend access for all companies linked to C&M.
🕵️♂️ Attempt to Launder with Crypto Assets
As is common in large cyberattacks, the invaders attempted to use cryptocurrencies to launder part of the stolen money — mainly Bitcoin (BTC) and Tether (USDT). However, the operation was partially thwarted thanks to the quick action of crypto platforms.
The CEO of SmartPay, Rocelo Lopes, was one of the first to detect suspicious movements. His team identified irregular traffic of digital assets during the early morning and acted immediately, blocking transactions and withholding amounts before they were fully converted into crypto.
“When I received this alert, I saw that more users were creating accounts and it caught my attention,” Lopes explained. SmartPay and other OTC desks managed to prevent the funds from being completely laundered, starting the process of returning the money to the affected institutions.
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