Tuesday, March 21

Judge orders Binance to refund student who lost Bitcoin while sleeping

A case that came to light in 2021 was of a medical student who had his Binance account hacked, losing everything he had in Bitcoin. while sleeping. in conversation with the Livecoins in september of that year, he said that his account was moved by at least 4 different IP’s, from several countries, in a short period.

As he never left Brazil, he told his story narrating that his account received hits from the United Kingdom and other European countries, with a difference of minutes. This was certainly strange for the investor, who held Bitcoin on the exchange.

Sought by the report at the time, Binance sent a statement that the investor did not have two-factor authentication on his account, nor e-mail activated, which would certainly have helped in a hacking of his account.

Even so, the case stopped in Brazilian justice, receiving a sentence last Monday (31).

Judge Orders Binance to Return Coins to Student Who Lost Bitcoin While Sleeping

After seeing his balance drained on Binance, a student who lost his Bitcoin balance on the exchange went to court asking to be refunded. By presenting evidence that his email had not been hacked, as well as accessing it from several countries, he was able to convince the judge who reviewed the case that his account was indeed hacked.

The judge also narrated that Binance in her response acknowledged fraud against the investor, and should have remedied the problem, as it is at the risk of the business.

“In view of the foregoing, I GRANT IN PART the requests made by [Cliente] against B FINTECH SERVIÇOS DE TECNOLOGIA LTDA., to order the defendant to return the balance he had in cryptocurrencies before the invasion to the plaintiff’s virtual account), that is, 2,677,3000 USDT, in the same asset he had.”

The judge only did not accept the request for moral damages filed by the student, but ordered Binance to pay court costs, procedural expenses and attorney fees, set at R$1,000.

This decision given by the judge of justice of São Paulo last Monday (31/01) calls attention for the celerity of the case. Even so, the case reminds investors to leave their accounts with brokers always with secure two-factor authentication, not just via email or without this mechanism.

Binance can still appeal the decision given in favor of the student, within fifteen days of its publication.

For the lawyer in the case, the judicial action was very fast

For Raphael Souza, cryptocurrency expert lawyer who represented the student against Binance, the lawsuit went very quickly in court. This is because the action was filed in November 2021 and has already been judged in January 2022.

in conversation with the Livecoins, he highlighted two factors that may have helped to give quick results in this curious case.

“I believe that two factors contributed to a result in such a short time: the first was, without a doubt, the efficiency of the judge in the case and her servants. The second, the law that allows early judgment, as provided for in art. 355 of the Civil Procedure Code: “_Art. 355. The judge will prejudge the request, pronouncing judgment with resolution of the merits, when: I – there is no need to produce other evidence;”.

In the case, the magistrate understood that all sufficient evidence to judge the action was already in the process. In other words, she was convinced of the author’s rights and did not even set up a hearing to hear parties or witnesses.