During the police operation, state law enforcement officers seized assets in various forms worth about 55 million Brazilian reais ($8.9 million). Law enforcement officers conducted searches at the headquarters of a company providing unregistered cryptocurrency turnover services.
The Sao Paulo police said that the digital platform, whose name was not disclosed, conducted cryptotransactions worth more than 500 million Brazilian reais ($89 million) through its accounts.
The raid occurred after the Sao Paulo Civil police received 20 arrest warrants and 60 search and seizure warrants against individuals associated with First Capital Command in several cities of the state.
The courts have blocked the assets of drug gang members worth more than 8 billion Brazilian reais ($1.4 billion).
In 2022, more than a hundred Brazilian police agents raided addresses in three federal states linked to a fraudulent network controlled by Francisco Valdevino da Silva. According to the authorities, the group of Francisco da Silva, also known as the "bitcoin sheikh", was engaged in the theft and laundering of crypto assets worth more than $700 million.