An investor from Goiânia faces a battle to get back his Shiba Inu (SHIB) cryptocurrencies stolen from his Binance account. The case arose after he had his phone chip cloned.
Keeping cryptocurrencies on exchanges is a high-risk practice as the platforms have flaws that are often exploited by hackers.
When customers link their email or mobile phone accounts to exchanges, they are still vulnerable to cyber-attacks.
Investor loses Shiba Inu in attack and justice says incompetent to judge the case
With 53,424,530.34 million Shiba Inu deposited on Binance, a Brazilian investor lost all his assets in less than 2 hours.
It all happened after he got his… Oi operator chip cloned, when the criminals got into your account and withdrew the funds, leaving the investor with nothing. The victim canceled the Oi hotline and filed a cybercrime report with a police station.
Contacted by support, Binance said it couldn’t help and his client should be more careful next time. Horrified, he sued the operator Oi and a company that represented Binance in Brazil.
Binance has not commented on the matter during the trial, as the client has included its former partner Capitual as a representative in Brazil, which is defending itself by stating that it has no relationship with the exchange.
Oi’s defense said the Goiás judge has no jurisdiction to adjudicate on the case, which requires expert analysis. Since there are documents presented by the client in English, the court also said they had to be translated by an official.
Hearing the case in recent days, the judge of Goiânia said he was incapable of adjudicating the case and ended the dispute. The client must appeal to reopen the case, otherwise he will lose the opportunity to defend the case.
“Given these facts, it is imperative to accept Oi’s defense contention that this court has no jurisdiction to hear the original request, given the need for an expert examination. However, it is essential to verify the operator’s alleged security flaw, which would have allowed the cloning of the chip, which requires specific technical knowledge to do so.”
The number of cryptocurrency theft cases involving telephone operators is growing in Brazil
In recent months, many Brazilian investors who had cryptocurrencies on exchanges had the unpleasantness of losing their assets during cyber-attacks.
One of the cases came against operator Claro, who detonated the Binance app after a Brazilian cloned his chip and lost bitcoins.
To avoid these kinds of problems, it is important that investors who lose their money with brokers use two-factor authentication with applications such as Google Authenticator or Authy.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
