Tag Archives: Brazil

Brazil’s Tax Regulator Wants to Snoop on Cryptocurrency Businesses

Brazil’s Department of Federal Revenue (RFB) has recently revealed it’s looking to monitor the activities of businesses dealing with cryptocurrency, a move it claims will help it prevent tax evasion and money laundering. Continue reading Brazil’s Tax Regulator Wants to Snoop on Cryptocurrency Businesses

Brazilian Football Club Avaí to Launch Cryptocurrency

Just days after French soccer giant Paris Saint-Germain football club (PSG) announced its own cryptocurrency, complete with an initial coin offering (ICO), Brazil’s Avaí Football Club has come up with a similar plan. Continue reading Brazilian Football Club Avaí to Launch Cryptocurrency

Known Bug in Brazilian Bitcoin Exchange Foxbit Sees Users Lose 58 BTC

Brazilian cryptocurrency exchange Foxbit has recently revealed that, via the BlinkTrade trading platform, it updated its login process, making it safer for users. The update may be too late, however, as recent reports suggest the company’s poor security allowed hackers to phish users out of an estimated 58 BTC (about $540,000). Continue reading Known Bug in Brazilian Bitcoin Exchange Foxbit Sees Users Lose 58 BTC

Brazilian Prison System Officials Caught in $22.4 Million Bitcoin Fraud

According to Brazilian news outlet Agência Brasil, authorities in Rio de Janeiro recently uncovered a money laundering scheme in which state officials misstate the budget spent on food for state-run prisons. Bitcoin was reportedly used to exchange some of the scheme’s proceeds, which totaled roughly $22.4 million. After the scheme was discovered, search warrants were issued to 28 different sites, with seven people having been arrested so far. Among those arrested are Rio de Janeiro’s former state secretary of Prison Administration, coronel Cesar Rubens Monteiro, and delegate Marcelo Martins, director of the Department of Specialized Police of the Civil Police. Continue reading Brazilian Prison System Officials Caught in $22.4 Million Bitcoin Fraud