Brazil dismantles crypto laundering network linked to Bitcoin Pharaoh
Brazil’s Federal Police have seized approximately $500 million from a money-laundering network that used cryptocurrencies and was linked to local crime boss Glaidson Acácio dos Santos, known as the “Bitcoin Pharaoh.”
As part of Operation “Cryptolaundry,” Brazilian police conducted 24 search-and-seizure operations nationwide starting on December 9. The operation aimed to dismantle fraudulent investment schemes and cryptocurrency-based money laundering.
Nine preventive arrests were carried out targeting 45 individuals and legal entities. According to local media, six people were arrested in the Federal District and two in Spain.
At the same time, courts ordered the freezing of bank accounts holding around 685 million Brazilian reals, equivalent to approximately $128 million. Authorities also approved the confiscation of commercial and residential real estate, as well as other assets belonging to the criminals.
Those detained will face criminal charges including financial crimes, money laundering, organized crime, document forgery, and related offenses.
Although the “Bitcoin Pharaoh” has been arrested, his criminal network continues to operate
According to local media reports, the cryptocurrency laundering group is linked to Glaidson Acácio dos Santos, widely known as the “Bitcoin Pharaoh.” Brazilian police arrested him in 2021, and in October 2025 he was sentenced to more than 19 years in prison. His right-hand man, Daniel Alesho Guimarães, received a sentence of over 16 years.
Santos was the head of Gas Consultoria, one of Brazil’s largest investment pyramid schemes. Thousands of Brazilians lost millions of dollars after investing in Gas Consultoria.
The crypto money launderers continued operating using Santos’ methods, laundering millions of dollars through a combination of shell companies and cryptocurrencies.
Criminals lured victims with promises of lucrative cryptocurrency investments. They actively promoted their schemes on social media, ran large-scale marketing campaigns, and organized in-person meetings to build trust and long-term relationships with victims.
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