Brazilian Court Upholds Detention of Suspect in $160M C&M Software Heist

STJ rejects release request for hacker accused of stealing $160M from C&M Software via BTC and USDT laundering, maintaining detention status.

Woofun AI reports that Brazil's Supreme Court of Justice (STJ) denied the release petition for suspect Luccas, confirming his continued detention in São Paulo. The legal action stems from an alleged fraud against technology firm C&M Software, where the suspect is charged with illicitly accessing the company's liquidation system to appropriate approximately 813 million reais, equivalent to roughly $160 million.

The criminal syndicate distributed the stolen capital across nearly 300 fabricated bank accounts to obscure tracking efforts, subsequently converting the funds into BTC and USDT via various blockchain networks to mask the illicit origins. The primary breach occurred in June 2025, involving a structured organization with distinct roles such as transfer operators and cryptocurrency fund managers, alongside bribery of internal staff to compromise server credentials.

The first-instance judge previously ordered the arrest of this suspect and approximately 20 other associates, with warrants scheduled for execution at the end of October.