Brazilian police bust cocaine traffickers in crypto-linked probe

Brazilian Federal Police just dismantled what they describe as a sprawling drug trafficking and money laundering operation that used crypto-enabled brokers to wash the proceeds of a massive cocaine pipeline to Europe. The operation, dubbed Operation Commodity, launched on July 23 and represents one of the largest crypto-linked criminal takedowns in Latin American history. The numbers are staggering. Authorities allege the network shipped approximately 6.5 metric tons of cocaine to countries including France, Belgium, Germany, Slovenia, and Spain since 2021. The laundered proceeds were funneled through what investigators call “criptodoleiros,” essentially illicit crypto brokers operating in the shadows of the digital asset ecosystem. How the operation unfolded The Federal Police executed 13 arrest warrants and 44 search-and-seizure warrants across multiple Brazilian states. Nine suspects were taken into custody. One suspect was killed during a confrontation with law enforcement. Courts ordered asset freezes and seizures totaling up to R$1 billion, roughly $196 million. That haul included luxury goods, real estate, and the assets of front companies used to obscure the money trail. Th...