Police in Brazil Arrest a Suspect Over $100M Banking Hack

Officials identified the suspect as João Roque, a C&M employee who worked in information technology and allegedly helped others gain unauthorized access to PIX systems.

Police in Brazil arrested a suspect in connection with a cyberattack that diverted more than 540 million Brazilian reais (about $100 million) from the country’s banking systems, authorities said Friday.

The breach affected Brazil’s widely used instant payment system, known as PIX, which is used by 76.4% of the population. Hackers targeted C&M, a software company that connects financial institutions to the Central Bank to enable PIX transactions.

Police in Sao Paulo said the $100 million loss refers to just one financial institution that worked with C&M and total losses could be even higher.

Officials identified the suspect as João Roque, a C&M employee who worked in information technology and allegedly helped others gain unauthorized access to PIX systems.

According to police ...