Brazilian police have arrested a man on suspicion that he was running a drug trafficking ring and laundering funds using Bitcoin. According to a local report, law enforcement officials found a clandestine drug laboratory containing Bitcoin mining equipment in Porto Alegre, in southern Brazil, and arrested the unnamed man yesterday. In the flat, located in the city’s southern quarter, police found equipment valued at approximately $63,000 (R$ 250,000). All 25 devices were switched on, according to police, and seemingly functioned 24 hours a day. The equipment was found in a small room with little ventilation. Local reports say the man claimed…

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