According to Bloomberg, Brazil's Federal Police launched 'Operation Exchange' on July 3 to crack down on a criminal organization suspected of laundering money for international drug trafficking. Authorities stated that the individuals under investigation transferred funds through illegal crypto asset transactions, cash transportation, and large-scale bank transfers, with preliminary findings identifying over 10 billion Brazilian reais in fund flows. The court has ordered the seizure/freezing of assets, funds, and crypto assets, totaling up to 10.4 billion Brazilian reais (approximately $2 billion). The operation executed 13 search and seizure warrants and 11 temporary arrest warrants. Additionally, according to the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), the network in question is allegedly linked to Brazil's criminal organization PCC and has reportedly used cryptocurrency to transfer illicit proceeds from the U.S. back to Brazil. https://(wublock123.com)/news/brazil-police-freeze-2b-crypto-assets-pcc-money-laundering-63979