Brazil's STJ Denies Release Request in C&M Software Fraud Case

Brazil’s Superior Court of Justice rejected suspect Luccas’ release request and kept him in custody in Sao Paulo state in a case involving a large-scale fraud against technology company C&M Software. According to ChainCatcher, the suspect is accused of illegally accessing the company’s clearing system and stealing about 813 million reais.Investigators said the funds were spread across nearly 300 fake bank accounts to make tracing harder, then converted from reais into BTC and USDT across multiple blockchains in an attempt to conceal the illicit source of the money, constituting money laundering. The main attack took place in June 2025, and the criminal group reportedly had a defined division of labor, including transfer operators and crypto asset managers, while also bribing a company employee to help break a server password.A lower-court judge had already ordered the arrest of the suspect and about 20 others allegedly involved in the case, and the warrants were executed at the end of October.