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$2.8K bribe unlocked $148M heist on Brazil’s central bank system; $40M laundered through crypto OTCs.

Hackers paid a software contractor just $2,770 to gain access to Brazil’s central bank reserve system, siphoning $148 million from six financial firms before laundering tens of millions through crypto.

$2.8K bribe unlocked $148M heist on Brazil’s central bank system; $40M laundered through crypto OTCs. Hackers paid a software contractor just $2,770 to gain access to Brazil’s central bank reserve system, siphoning $148 million from six financial firms before laundering tens of millions through crypto.
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Hackers allegedly bribed a C&M Software employee for about R$15,000, or roughly $2,770, to obtain credentials that let them access Brazil’s central bank-connected reserve infrastructure and divert funds from six financial institutions. Reporting and investigator estimates put the theft at about R$800 million, or roughly $140 million to $148 million, depending on the source and exchange rate used. The case matters because it hit a core piece of Brazil’s payment plumbing: C&M Software acts as a bridge between banks and the Central Bank, including the PIX instant payment system, so the intrusion exposed how a single compromised contractor can create systemic risk across multiple institutions. Brazilian authorities responded by suspending C&M’s access, arresting at least one insider linked to the credential sale, and freezing tens of millions of dollars tied to the incident. The laundering trail also shows how crypto infrastructure is used after large-scale financial thefts. On-chain investigator ZachXBT and related reports said roughly $30 million to $40 million of the stolen funds were moved through Latin American OTC desks and exchanges into assets such as Bitcoin, Ethereum, and Tether, while other funds were reportedly frozen or recovered.

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