A court in the state of São Paulo, Brazil ruled that Coinbase must refund a Coinbase Wallet user 507,000 Brazilian reais (about $99,000) plus statutory interest. The user said that their assets were transferred out of the non-custodial wallet without authorization. Coinbase argued that it does not hold private keys and cannot control transactions, but the court found that it failed to prove the transactions were initiated by the user and did not sufficiently explain the flow of funds and security measures, so it rejected Coinbase’s exemption defense. (Bitcoin com News)

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