On Thursday, September 17, the New York Attorney General’s Office (NYAG) and the cryptocurrency exchange Bitfinex will hold a video conference in the case concerning the loss of $850 million. The court decision states this.
450545 2019 in the Matter of the I v in the Matter of the I LETTER CORRESPONDEN 131 by ForkLog on Scribd
NYAG continues to seek documents relating to the relationship between Bitfinex and Tether Limited. According to the indictment, they sought to conceal the loss of fiat funds at the Bitfinex exchange amounting to $850 million through a loan from Tether’s reserves.
During the conference, a prosecutor’s representative intends to ask the court to compel the defendants to immediately produce the documents and information in accordance with the request dated April 24, 2019. The second demand would extend by 90 days the injunction prohibiting transfers of Bitfinex funds from Tether.
Back in 2019, the prosecutor’s office charged Bitfinex with attempting to conceal the loss of $850 million using Tether’s reserves. The exchange disputed the allegations.
Subsequently, the prosecutor obtained the documents related to the loss of access to fiat funds. In July 2020, the state’s appellate court rejected Bitfinex’s appeal, ordering it to disclose all the requested documentation.
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