Bittrex and Poloniex call market-manipulation allegations baseless

The cryptocurrency exchanges Bittrex and Poloniex have asked the court to hear the case in a streamlined, expedited fashion regarding their alleged involvement with Tether and Bitfinex in market manipulation.

gov.uscourts.nysd.524076.13… by ForkLog on Scribd

According to the lawyers for Bittrex and Poloniex, the allegations rely on “clearly false facts” and the plaintiffs cannot present convincing evidence.

As a result, both exchanges request expedited proceedings and are prepared to provide evidence in their defence.

Bitfinex commented on the motion by Bittrex and Poloniex and the suit:

“This time, the main thesis of the baseless accusation was that market manipulation was carried out through Bitfinex-owned addresses, which, according to the plaintiffs, were then used together with Bittrex and Poloniex to carry out some fantastical conspiracy.”

The plaintiffs will no doubt continue to conjure up new theories to give themselves grounds to claim money to which they have no right,” Bitfinex said.

Earlier, in 2019, a suit was filed against Tether and Bitfinex accusing them of money laundering, pump-and-dump schemes, market manipulation via the issuance of USDT, and deliberate deception of investors.

In June 2020, the plaintiffs accused Bittrex and Poloniex of aiding fraudulent schemes. It is alleged that the exchanges created an illusion of inflows of fresh liquidity into the market through multiple buy orders for BTC.

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