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Wire · regulatory

São Paulo Court Rules Against Coinbase in Landmark Case Over $100K Self-Custody Hack

12 July 2026 · By · Wire by Fusion42

Published

12 July 2026

Topic

regulatory

◆ Sectors

Fintech

◆ Geography

Brazil

◆ Source

Read at cryptonews.net →

◆ Verified

Fusion42 · 13 July 2026 · Fusion42 review

A São Paulo court ruled against Coinbase, ordering it to reimburse a user ~$100K for unauthorised funds transfer from a self-custody wallet, citing Brazil's Consumer Protection Code and holding the company liable for software security regardless of technical architecture.

This Wire brief sits within Fusion42's coverage of Fintech.

◆ ◆ The Wire takeaway

If you build a self-custody wallet or crypto app registered in Brazil, you're now liable for hack losses even when users hold their own keys - the court has moved liability from user to builder. This ruling will ripple across Latin America and sets a precedent that 'not our keys' is no longer a legal defence.

◆ Coverage

1 source · 12 Jul 2026

◆ Related on Wire

◆ Topics

Fintechself-custodycrypto-regulationconsumer-protectionbrazilliability-shift