ZachXBT: Brazilian Central Bank Service Provider C&M Software Hacked, Loses $140 Million, Hacker Converts Some of the Loot to Cryptocurrency

By: theblockbeats.news|2025/07/04 15:21:48

BlockBeats News, July 4th, Cryptocurrency detective ZachXBT shared in a post on his personal channel that "One of the most outrageous cases to occur in 2025, undoubtedly, was the recent cyber attack against Brazil's central bank service provider C&M Software, resulting in a loss of approximately $140 million (800 million reais)."

"On June 30, 2025, six financial institutions fell victim to unauthorized access, with the attackers breaching their reserve accounts at the central bank. The hackers then converted fiat currency into BTC, ETH, and USDT through over-the-counter (OTC) desks and cryptocurrency exchanges in the Latin American region. It is estimated that at least $30 to $40 million was converted into cryptocurrency."

"According to subsequent disclosures by Brazilian law enforcement, the hackers only paid around $2,760 (15,000 reais) to purchase the company login credentials from an employee of C&M Software. I have been assisting in tracking the funds, freezing accounts, and identifying unregistered OTC desks. When it can be made public, I will disclose the addresses related to this theft. Currently, this event has received little attention in the media outside of Brazil."

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