Brazilian police seize $28.7 million in cryptocurrency in Kryptos operation

The Federal Police of Brazil seized cryptocurrency worth 150 million Brazilian reais ($28.7 million) during operation Kryptos, linked to an alleged pyramid scheme. CNN Brazil reports.

Law enforcement officers have detained five people. In addition to the digital assets, police recovered $3.6 million in cash, 21 premium cars and various pieces of jewellery.

According to investigators, the organiser of the scheme was one of the detainees, Glaidson Acácio. The owner of a consulting business in the digital assets space in Rio de Janeiro offered clients yields of up to 15% per year. He is charged with moving billions of reais of client funds.

Earlier in July, the Federal Police of Brazil liquidated Bitcoin Banco Group, whose actions caused losses of more than $300 million to about 7,000 people. Its leader Cláudio Oliveira, known as the "King of Bitcoins", was arrested.

Earlier, former Brazilian Manchester United midfielder Anderson (Anderson Luís de Abreu Oliveira) became a suspect in a case of theft and money laundering through cryptocurrency.

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