Subsequently, the Sao Paulo Court of Justice reportedly ordered to block the assets managed by Unick Forex, granting an urgent injunction request to a client that complained about delay withdrawals from the platform. According to a court order published on Oct. 3, Unick Forex is free to appeal the decision.
Unick Forex Brasil reveja was previously ordered to pay $28,500 to a client who filed a lawsuit against the company for a delay in platform withdrawals.
The company in question claimed to guarantee investors profits of two percent per day. To achieve these far-fetched gains, it would trade cryptocurrencies and forex markets. Unick also operated a tiered-referral scheme where deposits made by new members would provide bonuses for older ones. According to a report in SueDinheiro, the company had operated without authorization from Brazil’s financial regulators and had received an investment of around R $2.4 billion (more than $603 million).