| Have you ever worked in a financial institution? This is such a common occurrence that the BCB had to impose a default $200 nightly limit for Pix trns between 8pm and 6am. The way it works is, criminals use money mules, or stolen identities, to open legitimate bank accounts, then once the cash hits the account, they fan out the stolen proceeds to crypto rails or other money mules (“laranjas”) BCB has been trying to solve this with MED 2.0 but it is still a duct tape over the real problem: rampant crime and fraud in Brazil And let’s not dive into the digital bank heists that have been happening since the last year, when hackers have already managed to steal hundreds of millions of dollars from the financial system by exploiting Pix’s 24/7 network [0] Such attack to the financial system would have been akin to a war declaration in serious countries, but crime is so widespread and normalized that Brazilians lowered their standards to accept these absurd situations [0] Hackers steal R$400m in attack on Pix-connected fintech: https://valorinternational.globo.com/google/amp/markets/news/2025/07/02/hackers-steal-r400m-in-attack-on-pix-connected-fintech.ghtml
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