trending Market Intelligence /marketintelligence/en/news-insights/trending/q1D9fe2GZ1FzHqipvaiKyA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Clients launch legal action after Brazil's Bitcoin Banco freezes accounts

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Clients launch legal action after Brazil's Bitcoin Banco freezes accounts

Bitcoin Banco Cryptocurrency is facing mounting judicial pressure after having blocked its customers from their accounts for more than two months in the wake of an alleged fraud, Valor Economico reported.

Clients from the Curitiba-based bank, which owns cryptocurrency exchanges, have not been able to withdraw or transfer funds either in Brazilian reais or in cryptoassets.

The company, known as Grupo Bitcoin Banco, has been hit by roughly 100 lawsuits for a total value that exceeds 70 million reais, a lawyer who represents two family groups affected reportedly said.

A company spokesman said Bitcoin Banco is seeking another 30 days to resolve the issue, admitting that withdrawals would be restricted during that time. The group said it suffered from a 50 million reais fraud.

The company has 400,000 registered clients, 50,000 of which are active, according to the publication.

As of Aug. 12, US$1 was equivalent to 3.99 Brazilian reais.