Bitfinex Disputes NY AG Allegations

 

 

 

 

 

Cryptocurrency exchange Bitfinex has responded to recent allegations by the New York Attorney General’s office in a statement on the company’s website. The statement asserted that the AG court filing was written in bad faith, and disputed accusations that the company has lost $850 million.

According to Bitfinex:

The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded.

 

We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers.

The statement said that Bitfinex and Tether have been “fully cooperative with the New York Attorney General’s office, as both companies are with all regulators.” The company suggested that the AG’s office should spend its time working to help Bitfinex recover its customers’ funds.

The company also tried to put to rest questions about its financial solvency by asserting, “Both Bitfinex and Tether are financially strong – full stop.” The company referred to the New York AG’s actions as “gross overreach” and vowed to fight the allegations.

 

 

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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