Hackers stole $140 million from Brazil's Central Bank
Date: 2025-07-07 Author: Henry Casey Categories: BUSINESS
A hacker group carried out a large-scale attack on the Central Bank of Brazil, stealing about $140 million from the reserve accounts of six financial institutions. The hack occurred through C&M Software, a company responsible for software and communication between the central bank and banks.
According to the investigation, one of the C&M employees sold his credentials for an amount equivalent to approximately $2,700. These data allowed the attackers to gain access to internal systems and make transactions with large sums. The stolen money was then transferred into cryptocurrencies - Bitcoin, Ethereum and USDT stablecoins - and then laundered through over-the-counter platforms and exchanges in Latin America. This was reported by the well-known crypto researcher ZachXBT.
Experts believe that this event once again demonstrates the vulnerability of centralized solutions in the financial sector. Systems that have a single point of failure become easy prey for cybercriminals, especially given the development of artificial intelligence, which makes hacking much easier.
Shielded Technologies CEO Eran Barak noted that centralized databases are the most attractive targets for hackers, since an attack on them brings much more income than hacking individual users in decentralized systems. In his opinion, the transition to secure blockchain solutions and the introduction of privacy technologies help reduce the motivation for attacks, as they reduce the potential benefit for criminals.
At the time of publication, there were no official comments from the Central Bank of Brazil and C&M Software, the investigation into the incident is ongoing. The authorities are also checking the possible involvement of the company's employees in the attack and assessing violations in the field of cybersecurity.
Brazil has seen some major cryptocurrency-related court cases in the past, including a 171-year prison sentence for the organizers of a major crypto pyramid scheme, highlighting the growing focus on crypto regulation in the country.
This case serves as a warning to financial institutions around the world to review their defenses and improve cybersecurity to minimize the risk of losses from similar attacks.
