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Interpol hunts Brazilian leader behind multimillion dollar cryptocurrency theft

Interpol hunts Brazilian leader behind multimillion dollar cryptocurrency theft
Interpol hunts Brazilian leader behind cryptocurrency theft

​Authorities in Buenos Aires have dismantled a sophisticated international hacking network accused of stealing millions of dollars from individuals and businesses. 

Dubbed Operation Copacabana, the investigation uncovered a criminal group that exploited a Trojan virus, "Grandoreiro," to access banking credentials and siphon funds into cryptocurrency accounts, according to Livecoins.

According to the Argentine Federal Police, the gang's leader, a Brazilian national living in Copacabana, Rio de Janeiro, remains at large and is the subject of an international arrest warrant issued by Interpol. 

Investigators revealed that the leader received 70% of the stolen funds, amounting to approximately R$650,000 ($130,000), while the remaining 30% stayed in Argentina.

How the Hackers Operated

The gang, comprising at least ten members, infected victims' devices with "Grandoreiro," enabling them to gain control over personal and business bank accounts. Once compromised, hackers transferred funds to intermediary accounts and eventually converted them into cryptocurrency. 

The funds were further funneled to accounts in platforms such as Mercado Pago and Banco Galicia. A 24-year-old Argentine hacker, who played a key role in laundering the stolen money, was arrested during raids in Buenos Aires and Mariano H. Alfonzo. 

The investigation also identified "Los Chicos," the Argentine cell of the operation, which acted under the direction of the Brazilian leader.

Key evidence, including digital devices and banking records, was seized during the raids. Prosecutors have charged those involved with criminal association and computer fraud, citing the network's complexity and the scale of the financial damage.

As authorities continue to search for the Brazilian leader, Operation Copacabana has exposed the vulnerabilities in cross-border cybersecurity, emphasizing the global reach of modern cybercrime.

Recently, Interpol has issued a red notice for Richard Schueler, also known as Richard Heart, founder of the crypto exchange PulseX. Finnish authorities are seeking the U.S. citizen for alleged tax evasion and assault on a minor.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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