Brazilian police launch Operation Veil of Maya to investigate cryptocurrency money laundering networks

Brazilian police are executing 9 search and seizure warrants in Sao Paulo, Ribeiro Preto, Porto Alegre, and Canoas, investigating money laundering networks involving 87 shell companies. The investigation shows that criminals receive illegal income through shell companies and exchange it for encrypted assets to transfer overseas. The individuals involved in the case are facing charges of money laundering, tax evasion, and involvement in organized crime. The police have not yet announced the scale of the funds involved and the amount of assets seized. （IBTIMES）