The Chile-based bank Itau has accused the cryptocurrency exchange Buda.com of transferring a client’s funds without authorization. The exchange denies the allegations, пишет news.bitcoin.com.
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The bank alleges that, in late February, Buda.com’s management, using fake banking details, a forged email, and a digital copy of a government-issued ID, transferred $26,000 from the client’s account to the exchange’s account.
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“The user profile was created in the victim’s name and was used for the illicit acquisition of cryptocurrency,” the bank states.
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Itau has long been pressing the exchange over insufficient measures to ensure regulatory compliance.
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However, representatives of the exchange are puzzled by the accusations:
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“The reasons for accusing Buda of fraud are unclear to us, because the data theft occurred from the client’s bank account at Itau, and not from our platform,” they stated, adding that Buda bears no responsibility “for the criminal’s decision to buy cryptocurrency on their platform.”
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The platform contends that its identification procedures restrict access to accounts from unregistered IP addresses.
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To settle the dispute, the parties intend to appear in court on matters of competition protection.
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Back in January 2018, the Latin American exchange SurBTC changed its name to Buda.com.
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In April 2018, Buda and another cryptocurrency exchange filed suit over account closures at Itau. Ten months later, the court ruled in their favour.
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