US EditionHackers in $140M Brazil C&M Software Banking Heist Launder Funds With Crypto
BRAZIL, JUL 3 – Hackers exploited an insider’s credentials to steal $140 million from six banks’ reserve accounts and laundered $30 million to $40 million through Bitcoin, Ethereum, and Tether, authorities said.
- On June 30, hackers stole $140 million from six Brazilian banks by exploiting C&M Software, which connects these banks to the central bank infrastructure.
- The breach occurred after criminals bribed C&M employee João Nazareno Roque to provide his corporate credentials and execute commands facilitating the attack.
- Attackers impersonated banks to issue fake Pix transfer requests via C&M’s platform, rapidly withdrawing funds within a three-hour window and disrupting instant payment operations.
- Blockchain analysis suggests that approximately $30 to $40 million of the stolen money was laundered into Bitcoin, Ethereum, and Tether through Latin American OTC markets before authorities were able to freeze a single wallet holding R$270 million.
- Authorities launched joint investigations and ordered C&M’s disconnection from financial systems, while C&M pledged ongoing cooperation and highlighted its robust security framework aiding the inquiry.
42 Articles
42 Articles
Hackers Behind $140M Brazil Banking Heist Turn to Crypto to Launder Their Loot
A group of hackers that gained unauthorized access to the Central Bank of Brazil's service provider has started laundering a portion of its $140 million haul using cryptocurrencies, according to On-chain
$100 Million Heist Exposes Brazil’s Weak Spot in Insider Risk
In a stunning display of how a single insider can become the key to a multimillion-dollar cyber heist, Brazilian authorities have arrested an IT employee who allegedly sold his login credentials for just $2,700—an act that helped hackers siphon off over $100 million from Brazil’s PIX instant payment system.The suspect, João Roque, 48, worked for C&M Software, one of eight firms authorized to connect directly to Brazil’s Central Bank and financia…
Attack the Pix service provider and who dropped at least R$ 541 million is investigated by the São Paulo Civil Police, the Federal Police and the Central Bank
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