Bitfinex Says NYAG Allegations Inaccurate

| Publish date: 04/29/2019

In the latest cryptocurrency news, Bitfinex is trying to make a cover of the allegations it received from the New York Attorney General. Basically, the crypto exchange is suggesting that all of these allegations from the NYAG are, in one way or another, inaccurate. Here is everything about it in a nutshell.

‘Filled With Inaccuracies’

According to the official report, Bitfinex stated that the narrative the New York Attorney General is trying to point is “filled with inaccuracies,” not to mention all of the false assertions included. The statement was made by the digital currency exchange via a letter sent to the media.

It was Jean Louis van der Velde, the CEO of the crypto exchange, who signed the aforementioned letter. Basically, the latter highlights that all materials brought against the company, as well as those allegations made by the NYAG, do not necessarily constitute a civil or criminal complaint.

As a matter of fact, the letter from the executive even went to assure the public of its stand. It said that, in one way or another, the allegation that the company managed to lose about $850 million is not only inaccurate but also “categorically false.”

The digital currency exchange further stated and explained that the funds involved are, in reality, seized. At the same time, they are all safeguarded in a number of jurisdictions. The latter, in particular, includes the United States, Portugal, Poland, and the United Kingdom. The company also went to claim that it is working rigorously in an attempt to release these funds.

Putting Forward Convincing Arguements

Velde further said that they are confident about providing convincing arguments, which will be crucial in putting an end to this case. Bitfinex also said that they will do everything in their power to “vigorously challenge” all of these false assertions courtesy of the New York Attorney General’s office. Basically, these allegations are stated in the latter’s recent filing.

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Lasly, Velde said that the company has already started working alongside regulators across the world. He also encourages users to start addressing all remaining questions to him or other senior staff members of Bitfinex.

As previously reported, there are at least two shareholders of the company that expressed their unconcern towards the allegations made by the NYAG. They even went to claim that all the company needs is “a few weeks” and all funds will be unfrozen and released in no time.


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