It has been reported that a heist of $5 million was well on its way in Brazil which targeted the Spanish multinational institution, Banco Santander, but was fortunately prevented using local over the counter crypto exchanges (OTC). It has been learnt that the perpetrators of the online money laundering tried to convert the stolen money into Bitcoin but bank accounts were frozen immediately upon receipt.
A report detailing the investigation into the matter was issued from Santander in which the company clearly mentions its inability to discern the stolen funds.
The Origin of the Heist and Other Updates
The $5 million online theft in Brazil dates back to the middle of April this year. Santander states that it could identify abnormalities in the transaction with local steel manufacturer Gerdau. The abnormality was that a transaction of $5 million was made from a single IP address. A police report was filed on 20 April following this particular incident of theft. Eight people who were involved in the case stated that the bank accounts that received the exchanges were frozen.
To quote an anonymous OTC desk operator,
“As it was a very high amount, of R $5 million [$900,000], we asked for a bank statement from the original account. When we realized that the money we received had entered the original account on the same day, we blocked the operation. Immediately, the customer started to pressure me to send the Bitcoin, but I didn’t. A short time later, the bank blocked my account.”
The only resolution to safeguard the rescued some of money was to transfer it to OTC.
The Money Heist Flummoxed Santander
Santander reasoned the heist to be perplexing because the perpetrators of the heist used the account of a corporate customer named Mundial Illumination. The public prosecutor looking into the case states that it seemed like an invasion of a corporate domain into another corporate domain.