<ul data-eligibleForWebStory="false"><li>An insider at C&M Software, a firm connecting Brazil's Central Bank with local financial institutions, allegedly sold system access for less than $3,000.</li><li>Attackers drained funds from reserve accounts tied to six financial institutions, converting a significant portion, around $30–40 million, into various crypto assets like Bitcoin, Ether, and USDT.</li><li>Centralized infrastructure vulnerability is highlighted as a concern post the incident. Experts warn about the increasing targeting of single points of failure like employee credentials by hackers utilizing AI tools.</li><li>Security analysts suggest that decentralized technologies, especially those leveraging zero-knowledge proofs, could mitigate risks for attackers by removing honeypots of sensitive data and capital.</li></ul>

Crypto Hack Drains $140M from Brazilian Banks

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