Items seized in Operation Exchange. (Photo: Disclosure/Policiacivil.sp.gov.br)The Civil Police launched this Thursday (22) the "Operation Exchange", which served 6 search warrants in cryptocurrency brokers in Diadema and in São Paulo.According to an official note from the Civil Police of the State of São Paulo, the Justice determined the blocking of accounts and sequestration of the values of 2 individuals and 17 legal entities, totaling R$172 million. Investigations suggest that some brokerages have their activities focused on intermediating the purchase and sale of crypto-assets to fictitious companies, on behalf of of “oranges”. Intelligence data still point to a brokerage firm that "maintains financial ties, almost exclusively, with shell companies." No name was mentioned. "Investigations found that, in just 5 months, the brokerage firm transacted approximately R$ 10 million in virtual currencies with at least 6 fictitious companies, and indicated that another 8 companies acquired, in the same period, about R$15 million in virtual coins.”, said the police.
Exchanges profit from the black market
According to the note from the Civil Police, the investigated brokerages do not verify the legitimacy of the institutions with whom they negotiate, nor the origin of the amounts received. With this, they profit from the black market and seek to give a lawful aspect to the values. Still according to the note, the exchanges under investigation would be "consciously operating in favor of a criminal organization aimed at laundering money through cryptocurrencies", simulating sales operations or services provision.See too: