São Paulo State Court Rules Coinbase Must Refund Nearly $100,000 to Self-Custody Wallet User After Unauthorized Transaction

Odaily Planet Daily News The São Paulo State Court in Brazil has ruled that Coinbase must refund nearly $100,000 to a user who claimed that funds deposited into their Coinbase Wallet disappeared due to an unauthorized transaction. Coinbase argued that the private key to the wallet was entirely under the user's control, but failed to prove that the transaction was initiated by the wallet holder, nor could it demonstrate that adequate security measures were in place to prevent such an outcome. The court issued its ruling based on the relevant provisions of the Consumer Protection Code, ordering Coinbase to return the full amount along with statutory interest. (Bitcoin.com News).