Brazil's central bank plans to implement a real-time crypto threat alert system following several major cyberattacks and thefts in the South American country.
The new crypto monitoring system will reportedly connect banks and domestic stock exchanges and provide around the clock surveillance of cryptocurrency transactions.
The move by Brazil's central bank comes after hackers stole an estimated $180 million U.S. of cryptocurrency from digital wallets in the country during 2025.
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The new alert system is expected to be live and running within two weeks. It will require a 24-hour preventive hold on crypto transfers above $10,000 U.S. starting in January 2027.
The new monitoring system has been developed with blockchain security company Hypernative and will cover both large crypto such as Bitcoin (CRYPTO: $BTC) and smaller memecoins.
The new monitoring system is designed to help financial institutions identify attacks, respond to suspicious activity, and track crypto stolen from digital wallets and money that's moved from the banking system and into the crypto market.
Bitcoin is trading at $79,400 U.S. on Aug. 28.