A concerning cyber incident has shaken Brazil’s financial technology sector after criminals attempted to steal nearly $130 million through the country’s real-time payments network, Pix. The breach was detected on August 29, 2025, when Sinqia S.A., a São Paulo-based financial software company owned by Evertec, noticed unauthorized activity in its systems.
What Happened
According to Evertec’s disclosure to the U.S. Securities and Exchange Commission, attackers gained entry into Sinqia’s Pix environment and tried to initiate unauthorized business-to-business transfers. Pix, operated by the Central Bank of Brazil, is an instant payments platform that has become the country’s most widely used method for digital transfers since its launch in 2020.
The attempted theft targeted two financial institutions connected to Sinqia’s services. Once the suspicious activity was detected, Sinqia suspended all Pix-related transactions and brought in external cybersecurity experts to investigate.
How the Attackers Broke In
Initial findings show that the hackers gained access by using stolen credentials belonging to an IT service provider. By leveraging legitimate login details, they were able to penetrate Sinqia’s Pix environment and attempt large-scale transfers. This method, often referred to as a supply chain or vendor compromise, has become increasingly common in financial cyber
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