Brazilian Court Rejects Hacker Suspect's Release Request in $160 Million Money Laundering Case

The Brazilian Supreme Court has denied the release request of suspect Luccas, maintaining his detention in the state of São Paulo. The case involves large-scale fraud against tech company C&M Software, with the suspect accused of illegally accessing the company's clearing system and stealing approximately 813 million reais (about $160 million). The criminals dispersed the funds into nearly 300 fake bank accounts to complicate tracking, and subsequently converted the reais into BTC and USDT through multiple blockchains in an attempt to conceal the illegal source of the funds, constituting money laundering. The main attack occurred in June 2025, with the criminal organization having clearly defined roles, including transfer operators and cryptocurrency fund managers, and bribing company insiders to assist in cracking server passwords. The trial judge has ordered the arrest of this suspect and about 20 other individuals involved in the case, with the arrest warrant executed at the end of October.

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