{"id":7428,"date":"2021-08-09T10:59:50","date_gmt":"2021-08-09T09:59:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7428"},"modified":"2021-08-09T10:59:54","modified_gmt":"2021-08-09T09:59:54","slug":"brazilian-court-orders-the-sale-of-bitcoin-stash-worth-1-1-million","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/brazilian-court-orders-the-sale-of-bitcoin-stash-worth-1-1-million\/","title":{"rendered":"Brazilian Court orders the sale of Bitcoin stash worth $1.1 Million"},"content":{"rendered":"\n
This is the first time a Brazilian court has ordered the sale of a Bitcoin stash<\/a>, the Bitcoin was seized from Tradergroup a company that was allegedly operating as a Ponzi scheme under the guise of a cryptocurrency investment firm, in 2019.<\/h5>\n\n\n\n
\"Brazilian<\/figure>\n\n\n\n

43 Federal Police officers executed five search and seizure orders in Espirito Santo, Mato Grosso do Sul, and Acre as part of the “Madoff” operation\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

The revenues of this deal will be used to pay off some of Tradergroup's outstanding debts to its former customers.<\/p>\n\n\n\n

The court concluded last month that the auction will take place at Mercado Bitcoin, one of the country's largest cryptocurrency exchanges.<\/p>\n\n\n\n

The exchange sold nine lots of three bitcoins, plus the residual value, for no less than 2% of the market price. The cash obtained for the sale was then deposited to a court account in fiat currency.<\/p>\n\n\n\n

Alexandre Senra, the Federal Public Prosecutor said:<\/p>\n\n\n\n

There are many victims of Tradergroup with lawsuits, mainly in the State Court<\/a>, asking for the money invested back, and now a portion of this money will be able to be returned, not all because the credit sold in [Bitcoin] was not enough to reimburse the losses.<\/p><\/blockquote>\n\n\n\n

This is the first time a Brazilian federal court has ordered the sale of a cryptocurrency asset via a commercial exchange, according to the judge who ordered the sale of bitcoins.<\/p>\n\n\n\n

This does not, however, imply that Brazilian authorities are unconcerned about cryptocurrency-related crimes. In fact, the country has been one of the most active in South America in the cryptocurrency space.<\/p>\n\n\n\n

Claudio Oliveira, commonly known as the Brazilian “King of Bitcoin,” <\/a>was detained last month on suspicion of being involved in a $300 million fraud scam.<\/p>\n\n\n\n

A police investigation linked anonymous cryptocurrency schemes to money laundering shell firms in the country resulted in the seizure of more than $33 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

This is the first time a Brazilian court has ordered the sale of a Bitcoin stash, the Bitcoin was seized from Tradergroup a company that was allegedly operating as a Ponzi scheme under the guise of a cryptocurrency investment firm, in 2019. 43 Federal Police officers executed five search and seizure orders in Espirito Santo, […]<\/p>\n","protected":false},"author":12,"featured_media":7448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[152,2049,1461,2050],"class_list":["post-7428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-stash","tag-brazil","tag-court-order"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Brazilian-Court-orders-the-sale-of-bitcoin-stash-worth-1.1-Million.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7428"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7448"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}