Brazil Court Convicts 14 in Landmark $95M Crypto Money Laundering Case Involving Drug Cartels

A Brazilian court has sentenced 14 individuals for their roles in a sophisticated money laundering scheme that moved approximately $95 million in drug trafficking proceeds. The operation, dismantled by authorities, utilized a complex network of shell companies and cryptocurrency transactions to conceal the illicit funds. This landmark case highlights the increasing focus of Brazilian and international law enforcement on the use of digital assets for financial crimes. The convictions signal a significant step in regulatory efforts to combat crypto-facilitated money laundering, emphasizing the risks and legal consequences of using cryptocurrencies for illegal activities. The investigation involved extensive tracking of blockchain transactions to link the crypto movements to the physical drug trade.