Brazilian Federal Police Dismantle $2 Billion Crypto Money Laundering Ring Linked to PCC on July 4

According to the Brazilian Federal Police, authorities dismantled a Primeiro Comando da Capital (PCC)-linked cryptocurrency money laundering ring that moved approximately $2 billion on Friday (July 4). Operation Exchange involved 50 officers executing 24 search warrants across São Paulo, resulting in one arrest. The operation was accelerated after the U.S. Office of Foreign Assets Control (OFAC) designated key suspects on July 1, according to Federal Police Chief Andrei Rodrigues, who stated the early designation allowed a primary suspect, Victor Henrique de Oliveira Shimada, to flee before authorities could apprehend him.
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