OTC Exchanges Help Thwart $5M Bank Heist in Brazil
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A $5 million online heist in Brazil targeting Spanish multinational financial institution, Banco Santander was thwarted after the funds were seized with local over-the-counter (OTC) crypto exchanges.
The perpetrators immediately moved to convert the stolen funds into Bitcoin (BTC), however, the cash triggered many of the bank accounts of the exchanges to be frozen upon receipt, according to local press The Bitcoin Portal.
The media outlet claims to have obtained internal documents from Santander detailing an investigation into the incident, revealing that the institution is uncertain as to exactly how the funds were stolen.
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