Share this article
Brazilian Police Seize $28.8M in Crypto: Report
The investigation, dubbed “Operation Kryptos,” involved an alleged financial pyramid scheme.
Updated May 11, 2023, 7:02 p.m. Published Aug 26, 2021, 2:37 p.m.
Make us preferred on Google
Brazilian Federal Police seized R$150 million ($28.8 million) in crypto assets and made five arrests after cracking down on an alleged financial pyramid scheme, according to a CNN Brazil report.
- Police carried out 15 search warrants and also seized R$19 million ($3.6 million) in cash, 21 luxury vehicles, high-end watches and jewelry on Wednesday, CNN said.
- The operation dubbed “Operation Kryptos” involved police investigating an alleged financial pyramid scheme.
- Police made five arrests, including Glaidson Acácio dos Santos, the owner of a bitcoin consultancy based in the Lakes Region of Rio de Janeiro. He has a custody hearing today.
- His defense team released the following statement to CNN: “Glaidson Acácio’s defense is aware of the arrest and so far without access to the contents of the investigations. Only after proper analysis of all documentation will we be able to express ourselves in a concrete manner.”
- In July, Brazil’s civil police seized $33 million in an investigation into money laundering carried out through crypto exchanges in Sao Paulo and Diadema.
Read more: Brazilian Police Seize $33M in Crypto Money Laundering Probe
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
