Story highlights Robbers storm security firm with grenades, large caliber weapons and dynamite

1 killed, 4 injured in Paraguay; 3 suspects killed in Brazil

(CNN) Eight people were arrested Tuesday in the Brazilian state of Parana, all suspects in the explosive heist of an armored car company in Ciudad del Este, Paraguay.

According to a Brazilian federal police statement, six rifles, multiple automatic weapon magazines, two boats, seven vehicles and an unspecified cash amount were seized in the operation to arrest the suspects.

The robbery happened early Monday in Paraguay, near the border with Brazil and Argentina, police said.

Dozens of gunmen detonated explosives and set vehicles on fire as they stormed the company in Paraguay, taking millions of dollars and sparking a violent police chase into Brazil.

More than 50 people carrying large caliber weapons, dynamite and caltrops took part in what authorities are calling the "robbery of the century."

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