Brazil Probes Six Fintechs as Police Find Crypto Mining Setup

Police found about 30 computers set up for cryptocurrency mining in Rio’s Complexo do Lins, while Brazilian officials separately investigated six fintechs suspected of serving criminal groups in a probe involving 26 billion reais in atypical transactions.

The May 22 operation targeted Comando Vermelho. Investigators were examining where the mining equipment came from, whether it used stolen electricity and whether it had financial ties to organized crime. The available details do not identify the mined coins, equipment owners or value of any crypto generated.

Separately, Brazilian officials investigated six fintechs on suspicion of serving Primeiro Comando da Capital (PCC) and other criminal groups. Officials described 26 billion reais in atypical transactions over the 2022-2025 period.

Hidden Flow is a money-laundering investigation connected to fuel-sector fraud. The transaction total was not identified as cryptocurrency, and the available information does not establish a connection between the fintech investigation and the mining setup.

The cases involve different financial activity: mining produces cryptocurrency, while fintech payment systems can move existing funds. The details released do not show that the two investigations involve a shared network.