The Justice of São Paulo made an unprecedented decision in a case of fraud involving cryptocurrencies. A judge from the Civil Court ordered the blocking of USDC (a stablecoin, that is, a cryptocurrency pegged to the dollar) by Circle, the issuer of the asset.
The victim lost about US$ 13 thousand in a fraudulent scheme. The scam began with ads promising high returns in the crypto market through artificial intelligence.
The fraud was gradual. A false mentor guided the victim step by step, building trust over time. The person was directed to a platform called 'Atual Invest', which had a professional appearance.
The platform was created a few days before contacting the victim. According to court documents, the site was registered anonymously. On Reclame Aqui, the platform has seven complaints indicating fraud against various people.
For a period, the system showed constant gains. This reinforced the feeling of success and encouraged new investments.
How the fraudulent scheme worked
The victim transferred approximately $13,000. The amounts were converted into crypto assets. When they tried to withdraw, additional fees and non-existent taxes emerged.
Even after new payments, the withdrawal was never completed. The 'professor' insisted on new deposits. The millionaire returns were just fictitious numbers, without real backing.
The investigation identified that part of the amounts was in USDC. Circle has technical mechanisms that allow the blocking of specific tokens when there is a court order.
Blockchain tracking allowed monitoring the path of the crypto assets. It was possible to identify where they were held.
Precautionary decision against Circle
The judge granted a preliminary decision determining the precautionary blocking of USDC. He understood that Circle has sufficient technological control to prevent new movements of these assets.
The magistrate clarified that the blockage is not punitive or definitive. It is a precautionary, temporary, and reversible measure. The goal is to preserve the values and prevent the money from disappearing before the merits trial.
Raphael Souza, a lawyer specializing in cryptocurrencies representing the victim, stated that when there is an investigation and blockchain tracking, it is possible to act quickly and freeze amounts.
According to the lawyer, this completely changes the game for fraud victims seeking to recover lost money. The decision shows that Brazilian Justice is expanding the collection beyond brokers.
The article Justice of São Paulo determines the blocking of USDC by Circle in case of fraud was seen for the first time in BeInCrypto Brazil.