Brazil's central bank service provider C&M suffered an attack and lost about $140 million, and some of the funds have been converted into cryptocurrencies

Odaily News Crypto detective ZachXBT disclosed on his personal channel that C&M Software, a service provider of the Brazilian Central Bank, suffered a cyber attack recently, with a loss of approximately $140 million. On June 30, 2025, the reserve accounts of six financial institutions were illegally hacked, and the attackers exchanged fiat currencies for Bitcoin, Ethereum, and USDT through Latin American OTCs and exchanges. It is estimated that at least $30 million to $40 million were exchanged for cryptocurrencies. Brazilian law enforcement authorities revealed that criminals only paid a C&M employee $2,760 (15,000 reais) to obtain his company login account and password. ZachXBT said that when the time is right, it will publish the theft address related to this incident because it has been assisting in freezing funds and tracking unmarked OTC transactions.