Brazil STJ denies release in 813 million-real C&M Software fraud case

Brazil's Superior Court of Justice (STJ) kept suspect Luccas in detention in São Paulo state in a case tied to an alleged 813 million-real fraud against technology company C&M Software, Livecoins reported. Investigators allege the group illegally accessed the company's clearing system during a June 2025 attack, scattered the proceeds across 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 a money laundering scheme. Authorities say the organization had clearly defined roles, including transfer operators and cryptocurrency fund managers, and bribed internal company employees to help crack server passwords. A first-instance judge ordered the arrest of Luccas and about 20 other individuals involved in the case, and the warrant was executed at the end of October.

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