According to Cryptoslate, a Brazilian court has approved the use of NFTs to issue a notice to an unconfirmed defendant involved in a missing Bitcoin case, which is related to the alleged pyramid scheme of BWA Brazil company. This decision stems from a legal lawsuit filed by the BWA Brazil bankruptcy court appointing a trustee who attempted to interrupt the statute of limitations for claims related to cryptocurrency assets allegedly obtained using creditor funds. The bankruptcy estate requests the court to allow the casting of NFTs containing relevant legal documents and sending them to the wallet address involved in the initial transaction for digital delivery of legal process documents. In addition, the prosecutor's office also submitted favorable opinions in support of the trustee's request. This measure targets digital asset holders whose identities are unknown but whose wallet addresses can be traced through the Bitcoin blockchain. The bankruptcy estate claims that approximately 11200 BTC were obtained using creditor funds. At current prices, 11200 bitcoins are worth over $900 million. According to the litigation documents, these transactions occurred before bankruptcy and may currently face recovery proceedings. BWA Brazil was founded by Paulo Roberto Ramos Bilibio in 2017. The company froze withdrawals in early 2020, resulting in an estimated loss of 300 million Brazilian reals (approximately $52.2 million) for customers. Authorities estimate that this is one of the biggest losses in Brazil related to suspected cryptocurrency pyramid schemes. In July 2020, a Brazilian court approved BWA's judicial restructuring application, stating that it would repay its clients. However, less than a year later, another court order changed the procedure from judicial reorganization to bankruptcy, stating that the company had not made any efforts to repay its customers.
