The Brazilian judge allows NFT notes to the Governor of Bitcoin in a high -level fraud case

A court in Brazil allowed the use of non -explosive symbols (NFTS) to notify the unknown defendants in a case that includes the missing bitcoin coins (BTC) Associated with an alleged, Brazilian pyramid scheme.

the resolution It stems from the legal procedures submitted by the guardian appointed by the court in the bankruptcy in the BWA, which seeks to boycott the statute of limitations for claims related to the encryption assets obtained using creditors’ money.

The property requested that the court allow the digital service of the process by extracting NFTS that contains relevant legal documents and transferring them to the portfolio addresses participating in the initial transactions.

The ruling stated:

“The creditors who have been exposed to millions of dollars cannot be exposed to further damage due to the legislative delay in keeping pace with technological innovation. Therefore, I allow the fisherman appointed from the court to take all necessary measures to notify this protest. [which interrupts lawsuit deadlines] Via electronic communications using NFTS. “

Moreover, the Public Prosecutor’s Office provided a positive opinion that supports the guardianship.

The scale targets the holders of digital assets whose identities remain unknown, but they have wallet addresses that can be tracked through Bitcoin Blockchain.

The estate claims that about 11200 BTC was obtained using creditors’ money. At current prices, it is worth 11,200 Bitcoin more than $ 900 million.

According to the deposit, these transactions occurred before bankruptcy and are now subject to possible recovery procedures.

Great plan

BWA Brazil was founded in 2017 by Paulo Roberto Ramos Bilibio and presented itself as an investment company that offers BTC exposure. 5 % fixed monthly returns were offered to customer deposits, which is an impossible result based on a variable return of bitcoin.

However, the company freezes withdrawals in early 2020, leaving customers estimated at $ 300 million – about 52.2 million dollars. The authorities have estimated that this is one of the largest losses of Brazil linked to an alleged encoded pyramid scheme.

In July 2020, a Brazilian court approved the BWA request for judicial recovery, claiming that it would return its customers. However, after less than one year, it was not another matter from the practical court of judicial recovery to bankruptcy, claiming that the company did not make any efforts to push its customers.

It is claimed that Pelibio and his partner, Jessica da Silva Farias, used the money kept by BWA to buy bitcoin. Both remain free and have not yet been arrested.

Blockchain tracking provides new legal operations

The most prominent guardian is that although the identity of the wallet addresses is not disclosed, Bitcoin’s technical engineering allows the tracking of individual coins. Once received in a wallet, BTC can be transferred again and again, but each transaction is permanently recorded on Blockchain.

The deposit acknowledged that some assets were transferred through central exchanges, while others have been transferred through counterparts to analogy that exceeds the mediators from the third party.

The authorities may be able to identify the final beneficiaries in cases that involve allocated exchanges in Brazil, where entities must report user transactions to the federal revenue service.

However, peer transmission to analogous using asymmetric encryption represents great challenges to support, which makes the direct notification via Blockchain a necessary procedural innovation.

The use of NFTS to start the legal notification is a conditioning of procedural standards to accommodate the unique properties of Blockchain’s financial activity where the courts are struggling with judicial and evidence complications for decentralized asset flows.