The judge agreed to freeze the bank account of the Brazilian encryption company GBB

According to Cointelegraph, a court in São Paulo, Brazil, frozen funds in a bank account associated with Grupo Bitcoin Banco (GBB), which was approximately 726,630 Brazilian Real (approximately $188,000). The two and a company accused the GBB of committing abuses, and because of the suspension of the transaction, they were unable to convert the funds into Brazilian reals or deposit funds into bank accounts. The three claimed that they had a total of 726,630 BRL on the GBB platform and requested the judges of the São Paulo State Court to urgently monitor their funds. In the ruling, a judge expressed his consent and stated that there was a “risk of injury” because the plaintiff might lose money completely. GBB can appeal this decision. GBB has recently been involved in a security breach, and some customers have doubled their account balances and extracted non-existent funds, which could amount to as much as BRL 50 million (approximately $13 million). On Monday, the company with exchanges such as NegocieCoins and TemBTC announced that it had identified 19,966 fraudulent transactions and suspended 2,568 suspicious accounts. GBB said it is committed to meeting the withdrawal requirements, but some customers expressed disappointment after the delay.