Tether’s blockchain sleuths help Brazil bust $5.7m cyber fraud ring

Brazilian authorities have just made a major repression on a sophisticated money laundering network with the help of Tether. The real -time monitoring tools of the stable giant giant led to the freezing of 32 million R $ in USDT, exposing how cryptographic criminalic criminalics exceed traditional finances in dirty money hunting.

On July 18, the USDT issuer attachment announcement His role in assistance to the Brazilian police to dismantle a sprawling cyber-fraude operation, appointed Operation Magna Fraus.

According to the press release, the São Paulo prosecutor’s office and the federal police targeted a criminal union accused of siphoning funds via the Brazil Pix payment system before training them in the USDT. More than two days of raids across Goiás and Pará, the authorities seized 5.5 million rands from Rands in crypto and frozen another R 32 million dollars ($ 5.7 million) in Tether, to date one of the largest busts related to the stable reserve.

How the transparency of the blockchain rewrites the rules for the fight against crime

In addition to the freezing of 32 million USDT, the Brazilian authorities also discovered a private key linked to stolen cryptographic assets, a rare discovery in such operations. The key has granted access to portfolios with illicit funds, which were quickly transferred to state care.

According to the Office of the São Paulo prosecutor, these assets will be liquidated and placed under a legal account managed by the Criminal Tribunal specializing in tax crimes, criminal organizations and money laundering. This mechanism guarantees that any recovered value remains under the supervision of the Brazil criminal justice system as the procedure is progressing.

Tether’s involvement in Operation Magna Fraus is far from aberrant value. In the past year only, the company has become an essential ally for law enforcement organizations repressing illegal finance.

In June 2024, the American Ministry of Justice credited Tether for helping to seize $ 225 million in USDT linked to a high -level fraud case. Months later, he helped the American secret services by freeze $ 23 million linked to transactions on Garantinex, a Russian exchange on black list for the escape of sanctions, and $ 9 million linked to the bybit exchange.

To date, Tether has blocked more than 5,000 wallets, with more than half of this figure in collaboration with the American authorities, signaling a seismic change in the way stablecoins are checked.