Brazilian judge allows NFT summons issued to Bitcoin wallets in BWA Brazil fraud case "
On April 1, it was reported that a Brazilian court had approved the use of NFT to issue notices to unconfirmed defendants in a case involving missing bitcoins related to suspected pyramid schemes of BWA Brazil. The decision stems from a legal action filed by the BWA Brazil Bankruptcy Property Court appointed a trustee who sought to interrupt the statute of limitations for claims related to crypto assets allegedly acquired using creditor funds. The bankruptcy estate asked the court to allow legal process documents to be digitally served by forging an NFT containing relevant legal documents and sending it to the wallet address involved in the original transaction. BWA Brazil was founded in 2017 by Paulo Roberto Ramos Bilibio. The company froze withdrawals in early 2020, resulting in customer losses estimated at 300 million reais (approximately US$52.2 million). Authorities estimate this to be one of Brazil's largest losses related to suspected cryptocurrency pyramid schemes. In July 2020, a Brazilian court approved BWA's judicial reorganization application, saying it would repay customers. However, less than a year later, another court order changed the process from judicial reorganization to bankruptcy, saying the company had made no effort to repay customers.
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