Brazil Allows NFTs to Issue Subpoenas in Crypto Fraud Case

In a high-profile crypto fraud case involving the collapse of BWA Brazil, a Brazilian court has authorized the use of non-fungible tokens (NFTs) to issue subpoenas. This decision aims to identify individuals involved in alleged transactions and recover funds from those responsible for suspected misconduct. The case revolves around 11,200 bitcoins valued at $900 million that are believed to have been misappropriated by the defunct investment company BWA Brazil. 4 crypto exchanges will now be tasked with notifying wallet owners of the court ruling, while a court-appointed trustee is authorized to utilize NFTs for communication purposes.