A Brazilian federal court ordered the sale of a bitcoin stash worth $1.1 million. The sale was conducted by the largest regulated exchange in the country, Mercado Bitcoin. The Federal Police seized the bitcoin sold from Tradergroup, a company that allegedly was operating as a Ponzi scheme, under the facade of being a cryptocurrency investment company. This is the first time a Brazilian court order initiated a bitcoin sale from seized assets in the country. Brazilian Court Ordered to Sell Tradergroup’s Seized Bitcoins A federal court in Espirito Santo ordered the sale of $1.1 million worth of bitcoins that were seized by Federal police back in 2019 from Tradergroup, an alleged Ponzi scheme that was operating under the cover of a cryptocurrency investment company. The company was intervened as part of the “Madoff” operation, where 43 Federal Police officers executed five searches and seizure warrants in Espírito Santo, Mato Grosso do Sul, and Acre. The proceeds of this sale will be d...
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