Brazil STJ keeps suspect jailed in C&M Software fraud tied to 813 million reais

Brazil's Superior Court of Justice (STJ) rejected suspect Luccas's request for release, keeping him in pretrial detention in Sao Paulo state in a case tied to an alleged 813 million-real fraud against technology company C&M Software. Investigators, cited by Livecoins, say the group illegally accessed the company's settlement, or clearing, system during a June 2025 attack, routed the proceeds through nearly 300 fake bank accounts and then converted the reais into BTC and USDT, a dollar-pegged stablecoin, across multiple blockchains to obscure the funds' origin in an alleged money-laundering scheme. Authorities say the organization had defined roles, including transfer operators and cryptocurrency fund managers, and that a first-instance judge ordered the arrest of Luccas and about 20 other suspects, with the warrant executed at the end of October.

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