According to Livecoins, Brazil’s Supreme Court denied the suspect Luccas’s request for release, upholding his detention in the state of São Paulo. The case involves fraud against C&M Software, with the suspect accused of illegally accessing the company’s liquidation system and stealing approximately $160 million. The criminals dispersed the funds across nearly 300 fake bank accounts and then laundered the money by converting it into BTC and USDT via blockchain. In the June 2025 attack, the criminal organization bribed internal company employees to assist in cracking server passwords.
Brazilian High Court Denies Release Request for Suspect in $160 Million Fraud Case
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Summary
BTC news today: Brazil’s High Court has denied the release request for suspect Luccas, keeping him detained in São Paulo. The case involves a $160 million fraud against C&M Software, with Luccas accused of hacking the company’s clearing system. Funds were transferred through nearly 300 fake accounts and later converted to BTC and USDT. In June 2025, the group bribed employees to obtain server passwords. The case remains a major focus in ongoing crypto investigations. BTC update: This case underscores the intersection of traditional finance and digital assets in large-scale fraud schemes.
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