March 28, 2024

Bitfinex and Tether sue to recover $ 800 million blocked at Crypto Capital closure

Bitfinex and Tether filed a lawsuit demanding the return of $800 million of customer funds frozen in the companies' accountsfour countries after the seizure of Crypto Capital accounts.

Parent company iFinex suesthe states of Colorado, Arizona and Georgia with a request for assistance in the return of funds blocked in the accounts of Crypto Capital. She was a payment processor on the Bitfinex cryptocurrency exchange and behind Tether, the USDT stablecoin.

iFinex sued SunTrust Bank in Georgia, Bank of Colorado in Colorado and Arizona-based ABT & Trust.Also, Bitfinex money was stored in banks in Poland, Portugal and the UK in the accounts of the payment company Crypto Capital, which is accused of illegal financial transactions.

“As we said earlier, the Bitfinex exchange has becomevictim of fraud. Her funds were blocked on Crypto Capital accounts, frozen at the request of law enforcement agencies of several countries at once, ”the iFinex representative said.

Over the past 40 days alone, Tether has issued USDT stablecoins worth more than $ 2 billion. The total token capitalization on all blockchains exceeded $ 8 billion.

Last fall, the Southern District of New York prosecutor charged Crypto Capital founder Oz Yosef with three charges under a criminal investigation.

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