Bitfinex Denies Laundering, Says It’s a Victim of ‘Fraud’ by Crypto Capital

Bitfinex says it was conned. The crypto exchange and sister company of Tether claimed Friday that it was the “victim of a fraud” at the hands of Crypto Capital, a payment processor that allegedly lost $880 million of Bitfinex’s money. Crypto Capital’s president, Ivan Manuel Molina Lee, was arrested Thursday by Polish police on charges […]

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Polish Police Arrest Head of Payment Processor Tied to Bitfinex Crypto Exchange

Polish police have arrested Ivan Manuel Molina Lee, president of Crypto Capital, on accusations of money laundering. According to reports in Polish newspaper W Polityce and news portal RMF24, the crypto entrepreneur was extradited to Warsaw, Poland under police escort. Polish authorities claim that Molina Lee is wanted in Poland for laundering up to 1.5 billion […]

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Bitfinex Repays Tether $100 Million of $700 Million Loan

Crypto exchange Bitfinex said Tuesday that it had begun repaying a loan from its sister company Tether. Bitfinex borrowed as much as $700 million from the stablecoin issuer through a line of credit in early 2019, according to legal filings by the New York Attorney General (NYAG)’s office. The exchange needed the cash to make […]

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NYAG: Bitfinex Should Be Made to Disclose Tether Deal Documents

New York prosecutors have struck back at cryptocurrency exchange provider Bitfinex, telling a local court that they believe the company should be made to turn over documents outlining a nearly $900 million line of credit offered by stablecoin issuer Tether. The New York Attorney General’s (NYAG) first sued Bitfinex and Tether for all documents pertaining […]

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Two Charged With Running ‘Shadow Banking’ Service for Crypto Exchanges

The U.S. Department of Justice announced Tuesday that it has hit two individuals with bank fraud charges in connection to a system for depositing funds to cryptocurrency exchanges. In a statement, U.S. Attorney’s Office for the Southern District of New York alleged that Reginald Fowler of Arizona and Ravid Yosef, said to live in Tel Aviv, […]

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Bitfinex Needs ‘A Few Weeks’ to Unfreeze Funds, CFO Tells Shareholder

Two Bitfinex shareholders said they were unconcerned by the New York Attorney General’s allegations that the cryptocurrency exchange lost $850 million of client and corporate funds. Zhao Dong, a Bitfinex shareholder who has tried to reassure the crypto community that the exchange is solvent and operational numerous times in the past, told CoinDesk Friday that […]

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Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege

The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall. According to a press release issued Thursday, NYAG Letitia James announced that she had obtained a court order against iFinex Inc., which operates both Bitfinex and […]

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Several Exchanges Said to Be “Failing” Bitcoin Ownership Event

HitBTC are apparently not the only ones who are “failing” the Proof of Keys event today. The event is intended to prove the Bitoin solvency of each exchange. Every user is encouraged to withdraw all Bitcoin to private keys that they control. However, according to Trace Mayer and the Proof of Keys’ event’s official page, […]

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