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🇧🇷Brazilian Court Uses NFT to Handle Crypto Case

The court has allowed the use of NFTs to send legal notices to Bitcoin wallet addresses related to the fraud case of the company BWA Brazil from 2020.

These wallet addresses belong to unidentified defendants - holding BTC purchased with fraudulently obtained funds. The court concluded that the investors who lost money could not endure further losses due to delays, and NFTs became an innovative legal tool, leveraging blockchain to quickly trace and notify summons.

This case is considered one of the largest crypto frauds in Brazil. The crypto company BWA Brazil is accused of fraud involving 11,200 BTC (~$900M), using a multi-level marketing model, promising huge returns of 5% per month from Bitcoin investments, before declaring bankruptcy.