Brazil's Federal Police launched Operation São Silvestre on 22 October, executing 12 search warrants in 10 municipalities across five states against an alleged pyramid scheme built on cryptocurrency and trading robots. A court ordered up to BRL 100 million (about US$19.8 million) of assets frozen for 15 individuals and 13 companies. Police estimate more than 10,000 people lost money between 2018 and 2020, in several Brazilian states and abroad. The platforms allegedly promised daily returns of 2% to 3%, or 10% to 70% a month, which the Federal Police say is incompatible with the market. Suspects are being investigated for criminal association, fraud, money laundering, and crimes against the national financial system and capital markets; the freeze aims to preserve property for possible victim compensation, but the PF has not named any suspect or said whether anyone was arrested.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Brazil Court Orders US$19 . 8M Crypto Freeze
Read the original on riotimesonline.com ↗
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cryptoscamsBrazilmoney laundering
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Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/22/2026 | 81,416.09 |
| Change that session | -3.18% |
ETH/USDT
• NeutralEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/22/2026 | 2,389.14 |
| Change that session | -3.42% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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