According to Livecoins, the Federal District Police in Brazil launched 'Operation Rastro' to crack down on a case involving fraud in the PIX instant payment system and cryptocurrency money laundering. Authorities claim the group exploited a vulnerability in a nationwide credit cooperative system, carrying out 425 fraudulent PIX transactions that resulted in losses exceeding 5.5 million BRL (approximately $1.06 million). Part of the funds was used to purchase balances on crypto exchanges both within and outside Brazil to obscure the flow of money. Police have executed 7 search warrants, seizing equipment, documents, and crypto wallets, while freezing funds in related bank accounts. https://(wublock123.com)/news/brazil-federal-district-police-bust-pix-fraud-1m-63574