Bitcoin market changes “birth certificate”, back to the future?

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Back to the future The Bitcoin Market is one of the best known cryptocurrency brokers among Brazilians and is currently among the 3…

Does Bitcoin Marketplace content change “birth certificate” back to the future? first appeared in Cointimes .

Back to the future

The Bitcoin Market is one of the best known cryptocurrency brokers among Brazilians and is currently among the 3 largest in volume in Brazil.

Interestingly, it is even more traditional than it sounds, as the company's official communication says it has been operating since 2013, while the Bitcoin Market has been in existence since 2011.

Images from the company's official website.
Images from the company's official website.

In a tweet published on Wednesday (10), which refers to the news that Binance had registered in Brazil with “false data” , the Bitcoin Market says it has 8 years of history:

"8 years of history," says MB's tweet.

However, the statement erases the first years of the history of Brazilian exchange.

Although the Bitcoin Market was formalized as a company in São Paulo in 2013, the site was created in 2011 by Leandro Marciano César , who even received a congratulatory response on BitcoinTalk from Roger Ver, one of the best-known figures in the crypto market.

The creation date is confirmed by a September 2017 Bitcoin Marketplace post which, although recently deleted, is readable by WayBack Machine.

Deleted text from Bitcoin Market
“In 2011 we created the Bitcoin Market”, says a publication now deleted from the official website and which was available until 2020 according to the Wayback Machine.

What happened between 2011 and 2013?

The story of the creator of the Bitcoin Marketplace site is obscure, but some excerpts can be read in threads on the world's first Bitcoin forum, BitcoinTalk. If anyone looks at the list of topics he started , he will know the story of one of the first supposed financial pyramids created with BTC in Brazil.

Featured in a thread on Oct 3, 2011, Bitcoin Rain emerged, an “investment group” started by Leandro César that promised 9% up to 12% return per month.

The idea, similar to the one disclosed later by schemes such as Atlas Quantum, was to take advantage of the price variation between different global exchanges to accumulate profit. The strategy is known as arbitrage.

César said he had two goals with Bitcoin Rain, “to generate profits for investors above the industry standard” and “to publicize bitcoin as a safe and reliable investment.”

However, in July 2012 the scheme received a stop order by the Brazilian Securities Commission (CVM) and Leandro Marciano César was prevented from offering any “investment in investment funds or any other security”.

CVM determination

However, it is estimated that Leandro, taking advantage of his good reputation in the Brazilian market, has collected more than 15,000 bitcoins. Until March 29, 2013, Leandro revealed an allegedly successful hacker attack on the Bitcoin Marketplace, the beginning of the end of Bitcoin Rain.

It is worth noting that, although Leandro was at that time the only person responsible for the exchange and the investment fund, MB and Bitcoin Rain were two separate companies and operated with different BTC portfolios.

Even so, Bitcoin Rain users were affected and no longer received their payments. Today, a lawsuit involving more than 2,000 bitcoins has Leandro César and the Bitcoin Market as defendants. During the process, an expert suggested that there was no evidence that the broker had been involved in managing the possible ponzi scheme .

In the last update to the original post of the thread “Bitcoin Market Problem” on BitcoinTalk, Leandro was no longer alone in managing the Brazilian brokerage, which gained three more partners.

The company was finally incorporated on May 28, 2013, with Rodrigo Batista, Gustavo Chamati and Maurício Chamati. Leandro left the company permanently at the end of 2013. After 2019, the Bitcoin Market received another CEO, Reinaldo Rabelo.

In order to understand about the change in the Bitcoin Market's communication in relation to the company's creation date, we contacted the press office, but we didn't have any feedback on the matter until the story was closed.

Read too:

  • Bitcoin developer hints about next update, understand
  • US government “bans” bitcoin addresses and newspaper money that spreads “fake news”

Does Bitcoin Marketplace content change “birth certificate” back to the future? first appeared in Cointimes .

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