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Bitcoin market blocks account with R $ 190 thousand due to suspected fraud and case goes to court


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The Bitcoin Market became the target of a lawsuit after it blocked the account of one of its customers on suspicion of fraudulent activity with a police investigation underway in São Paulo.

The suspect went to court on February 17, asking for R $ 226,203.96 from the brokerage. According to him, R $ 191,203.96 were blocked in cryptocurrencies.

“The conviction of this in the payment of R $ 191,203.96 as indemnity for material damages, corresponding to the balance of its financial application in cryptocurrency, by the exchange-defendant, as its account has been unjustly blocked, in addition to indemnity for moral damages”, leading the share in the amount of R $ 226 thousand.

What should have been an action by a dissatisfied customer due to an account block has unfolded in another reality after the exchange has presented the real reason for the block.

Bitcoin Market Defense

On March 25, the Bitcoin Market presented its challenge and it was a real counterattack. The exchange stated that "the author's account is temporarily blocked due to suspicion of involvement in fraud, the subject of a criminal investigation in this District".

The exchange exposed to Justice, therefore, the existence of a police inquiry by which it was informed that the plaintiff “on March 25, 2019, after settling the amount of R $ 20 thousand, with the remaining balance of his account acquired 10.76779 bitcoins, transferred to “virtual account outside the defendant's system” (account identified by code 14RVv4gJ66Qik6yrL6uFQAM4qqcHBab7J5 pages 139, 151, 178 / 179,190 / 191), apparently by another exchange ”.

The other cryptocurrency broker mentioned was Brasil Bitcoin. With this new fact presented in the process, there was no alternative but the judge responsible for the case to grant a new period for the parties to talk about this case.

Although the name of Brasil Bitcoin was mentioned in the process, the brokerage is not part of this discussion itself.

Judge Márcio Teixeira Laranjo, of the 21st Civil Court of São Paulo, then, after becoming aware of the documents brought by the Bitcoin Market, granted a period of ten days for the parties to comment on the case.

Bitcoin Market Response

O Bitcoin Portal contacted the Bitcoin Market. The exchange, through its press office, stated that:

“The Bitcoin Market does not comment on specific cases or ongoing cases. However, it reinforces that it has strict security and compliance policies and that, if the client does not deliver the necessary information for transactions above R $ 50 thousand, it may eventually temporarily block the balance, either as determined by the Brazilian authorities, or the client regularizes its documentation ”.

Erick Crus of Brasil Bitcoin said he had not received a communication about any police investigation. However, he mentioned that regardless the company does everything to collaborate with the authorities and that those who commit fraud must be punished to improve the market.

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