A court in Brazil has approved the use of NFTs to notify unidentified defendants in a case involving missing Bitcoins from an alleged pyramid scheme. The trustee of BWA Brazil’s bankrupt estate requested this to interrupt the statute of limitations on claims related to crypto assets acquired with creditor funds. The estate claims 11,200 BTC worth over $900 million were acquired before the bankruptcy and are subject to potential recovery proceedings. BWA Brazil offered unrealistic returns on BTC deposits, froze withdrawals, and is now bankrupt. The trustee highlighted that blockchain traceability enables tracking of individual coins, even in cases involving peer-to-peer transfers. The use of NFTs for legal notification is an innovative adaptation to address decentralized asset flows’ complexities.
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