Brazilian authorities have recently dismantled a major cryptocurrency Ponzi scheme that defrauded over 100,000 investors and raised more than $249 million. The operation, named Fantasos, involved over 50 officers who executed 11 search warrants in Rio de Janeiro, seizing approximately $280 million in assets, including luxury cars and jewelry. This crackdown highlights the growing involvement of organized crime groups in Brazil's crypto sector. In addition to crypto-related fraud, digital scams in Brazil caused losses exceeding 10 billion reais in 2024, representing a 17% increase from the previous year. One in four Brazilians over 16 years old has been a victim of such frauds, with young and elderly populations being the primary targets. Furthermore, the hospitality and food service sectors suffered estimated losses of around 100 billion reais due to various scams, including fake lodging and counterfeit food and beverages. Illegal gold mining remains another lucrative illicit activity, persisting despite enhanced regulatory enforcement by Brazilian authorities.