Brazilian court denies investor R$4.3M compensation over Mercado Bitcoin phishing site
- —Investor lost 11 BTC and R$215,000 in September 2020
- —Judge Maria Isabel cleared Mercado Bitcoin of liability
- —Client himself gave passwords and 2FA codes to fraudsters
- —Lawsuit filed three years after the loss, with 10% fees imposed on him
Why it matters: The precedent confirms that in phishing cases and when 2FA data is shared, liability falls on the client, not the exchange.
Source: Livecoins