Monday, February 26

Under penalty of fine, justice orders Binance to unlock Brazilian’s account


Under penalty of a daily fine of 20 thousand reais, justice ordered Binance to unlock the account of a Brazilian investor who had his account blocked last year. A platform investor since September 2018, the client claimed in the lawsuit filed against the brokerage firm that he had always trusted the company.

However, he detected that on August 27, 2021 his account was accessed and the data in it changed, a situation reported by the chat.

At that time, your account was suspended for review, remaining in this condition for 10 days. However, a deposit from the would-be fraudster was made on Binance by credit card and then requested for a refund.

With this action, the account was blocked by Binance on suspicion of fraud and the author of the process was never able to access his account again, nor did the broker answer what he could do to resolve the situation. Thus, he went to court to regain access to the account and balance, seeking exemption from paying R$500.00 for the deposit made by the fraudster.

Justice orders Binance to unlock Brazilian account, penalty of R$ 20 thousand per day in case of non-compliance

Under penalty of a daily fine of BRL 20,000.00 up to a limit of BRL 500,000, Binance was obliged, through a preliminary injunction, to unlock a customer’s account.

The lower court judge had determined the exchange to be fined R$10,000 daily, but after Binance allegedly failed to comply with the decision, the fine was increased to R$20,000.

After the decision, the exchange Binance appealed in the second instance of the TJSP and continues to seek to reform the decision, asking for a fine not to be charged. In its interlocutory appeal, released last Friday (28), the company “B Fintech Servicos de Tecnologia Ltda” even claims that it is not a broker.

Therefore, it could not be sentenced to the payment that was made by the headquarters abroad, not least because the Binance headquarters had already made the unlock.

“Initially, it claims to be an illegitimate part of the argument that it is not a broker, limiting its activity to converting real currencies to cryptocurrency. It states that it does not maintain deposit accounts or carry out transfers, activities carried out by “Binance”, a company based abroad, which, in turn, proceeded to unblock the appellant’s account.”

In the first instance, the judge analyzing the case kept Binance sentenced to unlock the Brazilian’s account and to pay a fine even with the grievance of an instrument filed by the broker.

Raphael Souza, cryptocurrency expert lawyer, comments that clients can ask for the payment of a fine in cases of blocking of arbitrary values ​​by brokers.

“There are cases in which the account is completely blocked without the possibility of accessing any information such as balance, transaction history and statement. In other situations, there is only serve blocking. In any case, if the blocking is abusive or if the broker does not present a plausible justification, it is possible to ask the judge to unblock the account immediately, with a fine for possible non-compliance. And if the exchange does not comply with the court decision, a fine may be imposed, as authorized by article 537 of the Code of Civil Procedure.





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