Brazilian Federal Police have successfully completed one of the largest seizures of digital currency in the nation.
According to a report from CNN Brazil, the Federal Police broke up a cryptocurrency Ponzi scheme and seized nearly $30 million in digital funds. In what the police called “Operation Kryptos,” an investigation of a pyramid scheme was carried out by the Lakes Region of Rio Federal Police. The confiscated funds will immediately be liquidated and made available to the courts.
Operation Krypto saw officials carry out 15 search and seizure warrants, which were carried out on August 24. On top of the seized cryptocurrency, 21 luxury vehicles were also confiscated, along with a collection of watches and jewelry. Foreign currency in excess of $3 million and various documents were also collected by the Federal Police.