A cyberattack on C&M Software has raised alarms over financial security, with over $40 million laundered into cryptocurrencies after a major breach facilitated by an insider.
A cyberattack on C&M Software led to the theft of nearly $148 million from Brazilian banks, with at least $40 million laundered into Bitcoin, Ethereum, and stablecoins. The breach was enabled by an insider who sold access for $2,800. Authorities have frozen $50 million connected to the hack, but a significant amount remains unaccounted for, prompting ongoing investigations.