Hackers steal $180M in Brazil’s biggest bank breach
The authorities are working to track stolen funds on blockchain networks following a record-breaking financial hack.
Hackers stole over R$1 billion (around $180 million) from Brazil’s banking system by exploiting a vulnerability in the PIX payment network. The breach began via C&M Software, a Central Bank-approved provider linking banks and fintechs to the financial system.
Criminals drained reserve accounts, including one tied to BMP, and moved the funds through crypto platforms to convert them into Bitcoin and USDT. Authorities and crypto platforms reacted fast, freezing suspicious transactions and returning some of the blocked funds.
C&M confirmed attackers misused client credentials to access its systems. BMP said no customer funds were affected, and reserves fully cover the stolen amount.
The attack has raised concerns about the use of cryptocurrencies in laundering stolen money. Global regulators continue to struggle with crimes where traditional systems are breached but digital assets are used to move funds across borders.
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