Brazil's federal police recently launched an operation called "Niflheim" to crack down on large amounts of money laundering through cryptocurrencies. The operation targeted three main organizations, and the police seized and froze about $1.58 billion in assets. Since the investigation began in 2021, the organizations are said to have laundered up to $9.70 billion, mainly from drug trafficking and smuggling. The operation shows the widespread use of cryptocurrencies in illegal activities and has raised concerns about global regulation.