Brazil Central Bank Hacked: $140M Theft and Ongoing Security Challenges

Brazil's central bank service provider, C&M, was hacked after an employee sold login credentials, resulting in the theft of approximately $140 million from six financial institutions. The hackers laundered a significant portion of the stolen funds through cryptocurrencies and Latin American exchanges. The incident underscores the vulnerabilities of centralized digital systems, especially as AI tools increase hacking risks, prompting a shift towards decentralized blockchain solutions for enhanced security.