Hackers responsible for a $140 million heist from the Central Bank of Brazil's service provider, C&M Software, have begun laundering between $30 million and $40 million of stolen funds using cryptocurrencies. According to on-chain analyst ZachXBT, the laundering process involved converting funds into bitcoin, ether, and Tether's USDT through Latin American over-the-counter desks and exchanges. The hacking incident, which occurred on June 30, saw a group of attackers gain unauthorized access by bribing an employee for credentials, affecting six financial institutions, including BMP. This incident is part of a concerning trend, as $2.5 billion has been reported lost to crypto hacks and scams in the first half of 2025. While Brazil has been increasingly open to cryptocurrency, embracing regulations that allow investment funds to include digital assets, the heist illustrates the ongoing challenges of security within the crypto space.

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