Brazil's Superior Court of Justice (STJ) has denied a request to release a suspect identified as Luccas, keeping him in custody in São Paulo state. The case involves a large-scale fraud against technology company C&M Software. According to Livecoins, Luccas is accused of illegally accessing the company's settlement system and stealing approximately 813 million reais, equivalent to about $160 million. The stolen funds were spread across nearly 300 fake bank accounts to complicate tracking, then moved through multiple blockchains as the criminals converted reais into Bitcoin (BTC) and USDT. The conversion was an attempt to hide the origin of the money and launder the proceeds. The main attack took place in June 2025. The criminal organization had a clear division of labor, including transfer operators and cryptocurrency fund managers, and bribed company employees to help crack server passwords. A first-instance judge ordered the arrest of Luccas and about 20 other suspects. The arrest warrants were executed in late October, and Luccas remains detained in São Paulo.
Brazil's Superior Court of Justice (STJ) turned down a bid to free suspect Luccas, so he stays locked up in São Paulo state. The case centers on a big fraud tied to technology firm C&M Software.
Livecoins says Luccas is accused of breaking into the company's settlement system and draining about 813 million reais (roughly $160 million). The cash was spread across nearly 300 fake bank accounts. Ugly stuff. That was meant to make the trail harder to follow. The money then hopped across several blockchains, with reais swapped into Bitcoin (BTC) and USDT in an effort to wash the proceeds.
The main hit happened in June 2025. The crew split the work up, with transfer operators and crypto fund managers handling different parts, and they paid off company insiders to help crack server passwords. A first-instance judge ordered Luccas arrested, along with around 20 other suspects; the warrants were carried out in late October.
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