Business/Finance
Cybercriminals Use Cryptocurrency to Launder Proceeds from $140 Million Bank Heist in Brazil
A recent analysis reveals that hackers managed to switch between $30 million and $40 million of their ill-gotten gains into cryptocurrencies after stealing from a Brazilian central bank service provider.
1 min read
On June 30, a significant cyberattack targeted the Central Bank of Brazil’s service provider, resulting in the theft of $140 million. Analysis from on-chain expert ZachXBT indicates that between $30 million and $40 million of the stolen funds were converted into cryptocurrencies like Bitcoin, Ether, and Tether.
- What happened? Hackers utilized bribery to gain access to an employee’s credentials, affecting numerous financial institutions.
- Impact of the attack: This incident highlights a disturbing trend, with over $2.5 billion lost to hacking attempts and scams in just the first half of 2025, according to CertiK.
Attack Impact
Key Points:
- Six financial institutions were affected by unauthorized access using the compromised credentials.
- The growth of cryptocurrency adoption in Brazil raises concerns regarding money laundering operations linked to cybercrime.
