Two Israeli brothers have been arrested in connection with a cryptocurrency scam involving “tens of millions” of dollars. Jerusalem-based Eli and Assaf Gigi were involved in a scheme were they accessed traders’ wallets and took the coins for themselves, Finance Magnates reports. The brothers are also reportedly suspected by investigators of links to the 2016 Bitfinex exchange hack. The incident led to the loss of around $ 65 million in bitcoin in 2016. A police spokesperson refused to further discuss the link with the publication. How the Brothers Conducted the Scam According to Posta, the brothers gained access to wallets through
iFinex, the owner of Hong Kong-based cryptocurrency exchange Bitfinex, recently announced plans to pause operations on the platform for up to 7 hours for a system upgrade on June 26. On June 26, Bitfinex will be offline for up to seven hours as we conduct a comprehensive platform upgrade for continued exchange innovation and scalability. […]
Attorneys for Tether and Bitfinex are hoping to get the former access to its reserves amid a legal dispute with New York Office of the Attorney General (NYOAG).
In a letter sent to the New York County Supreme Court, attorneys representing iFinex (the parent organization of Bitfinex) and Tether took issue with the restrictions that had been placed on Tether's transactions with related parties as part of an ongoing case against them, stating that the NYOAG had no basis for disallowing tether (USDT) holders and other affiliated entities from redeeming their tokens.
iFinex, the owner of Hong Kong-based cryptocurrency exchange Bitfinex, has reportedly raised the full $ 1 billion goal for its new exchange token, LEO. . @bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private companies, giants in our industry and outside, made investments for > 100m each. A legion of […]
The Bitfinex probe highlights not just the lack of reliable banking, but also – somewhat overlooked – the lack of auditing services, says Noelle Acheson.
Bitfinex and the New York Attorney General’s (NYAG) legal sparring in relation to $ 850 million in missing funds escalated with another round of court filings this past weekend.
The top exchange and New York’s principal legal advisor went back and forth with each other in two new letters submitted to the New York Supreme Court. Within the fresh filings, each a response to a previous filing by the other, the same ole song and dance.
The crypto community has been laser focused on the current dilemma between Bitfinex exchange and New York prosecutors over the alleged loss of $ 850 million of co-mingled customer and corporate funds. After the craziness last week, the New York Attorney General’s (NYAG) office has now demanded that Bitfinex must show transparency by turning over documents tied to the firm Tether.
iFinex, the owner of Hong Kong-based cryptocurrency exchange Bitfinex, is reportedly planning to raise $ 1 billion worth of Tether (USDT) through an initial exchange offering (IEO) for a new exchange token called LEO. According to a recent report by The Block, which cites Bitfinex shareholder Zhao Dong, Bitfinex has already had over $ 600 million in […]
Whether cryptocurrency enthusiasts believe the stablecoin controversy is worrisome or mere FUD, the news surrounding the $ 850 million of Bitfinex funds locked up has shaken the markets. Now, digital asset traders are closely monitoring the large premium on Bitfinex, where the price of BTC is trading for $ 300 more than on most spot markets. The publicly known Bitfinex cold storage wallet is also being monitored as large sums of BTC have left the address since the announcement last week.
Bitfinex and Tether’s legal counsel has written a response to the New York Attorney General’s (NYAG) ex parte order, which claims that Bitifinex used Tether’s reserves to cover some $ 850 million in losses.
In short, the affidavit writes off the NYAG’s concerns, calling them baseless and requesting an Order to Show Cause that would require the NYAG to prove its case in court unless it vacates or modifies the ex parte order. Additionally, it requests that the Supreme Court of the State of New York stay the NYAG’s order, meaning Bitfinex would not have to comply with a May 3, 2019, deadline requiring the exchange to produce documents related to a $ 900 million line of credit Bitfinex established with Tether to stanch the $ 850 million loss.
The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $ 850 million.
What does the news mean for Bitfinex, Tether and Bitcoin?
Bitfinex, one of the top crypto exchanges by total trading volume, has removed its $ 10,000 minimum equity threshold for its pro trading platform, opening it to everyone. We’ve removed our equity limits so you can set yours. Join Bitfinex today, now with no minimum equity requirement. https://t.co/kQlfRcJBFV pic.twitter.com/mdfPQuUcy9 — Bitfinex (@bitfinex) April 9, 2019 According […]
In this edition of The Daily, cryptocurrency exchange Coinbase has paid out a bug bounty of $ 30,000 for a critical vulnerability. Also, Tradingview has launched a new crypto dashboard allowing traders to track developments in the cryptocurrency markets and digital asset trading platform Bitfinex has released a new version of its mobile app.
Coinbase Pays $ 30,000 Bug Bounty
Cryptocurrency exchange Coinbase has paid a bug bounty of $ 30,000 for a critical vulnerability in its systems. The problem has since been fixed, Hard Fork reported, quoting a spokesperson of the leading U.S. digital asset trading platform. The company representative did not provide further details about the vulnerability.
Ifinex, the operator of Bitfinex and Ethfinex, is planning to briefly restrict access to the crypto trading platforms on Jan. 7 while migrating data to its new servers in Switzerland. Also in The Daily on Sunday, Indian exchange Koinex has updated its security features and Huobi’s mining subsidiary is preparing to launch a new trading platform dedicated to an altcoin.
Bitfinex, one of the top crypto exchanges, announced Saturday that it will be offline for up to seven hours on January 7, as part of a scheduled data migration to its new dedicated bare-metal servers. On Monday 7th January 2019, Bitfinex will be offline between three to seven hours as we complete the final stage of […]
Bitfinex, one of the world’s most popular cryptocurrency exchanges, announced Friday that it would be adding margin trading for Tether (USDT/USD), to allow investors to hedge their stablecoin position. Margin trading for USDT/USD pair on Bitfinex is now open. Read our announcement for more on what this means for our traders: https://t.co/kYZP6R1Yzq pic.twitter.com/wc5zsN4sh2 — Bitfinex […]
Crypto trading platform Bitfinex has announced the opening of a margin trading service for the USDT/USD trading pair. According to the platform, the aim of the new service is to improve its stablecoin offering so as to remain consistent with market evolution and user demand. With immediate effect, traders will be able to carry out leveraged
The post Bearish on Tether? Bitfinex Adds USDT Margin Trading appeared first on CCN
Cryptocurrency exchanges Bitfinex and Ethfinex now support trading for all six of the market’s major stablecoins. Adding to its support for MakerDao’s Dai and Tether’s USDT, the sister platforms recently listed USD Coin (USDC), TrueUSD (TUSD), Paxos Standard Token (PAX) and Gemini USD (GUSD). All stablecoins available on the exchanges will be traded against the U.S. dollar.
Launched in 2018, Ethfinex is Bitfinex’s ERC-20 exchange arm. Built for trading Ethereum tokens, the exchange is centralized at the moment, but the team plans to transform it into a decentralized exchange in the future.
Bitfinex, one of the world’s most popular cryptocurrency exchanges, and its Ethereum-based decentralized exchange, Ethfinex Trustless, are now offering the six leading stablecoins. From today customers can access all major stablecoins at Bitfinex, as we introduce USDC, True USD, Paxos, and Gemini USD to our existing Tether and Dai offering. Read more about our recent additions here: […]
Bitfinex, together with its sister exchange Ethfinex, has announced the introduction of four new stablecoins. The additions take the platforms’ total number of dollar-pegged tokens to six and provide a reassuring range of tether alternatives for traders. Trustless, Ethfinex’s decentralized exchange (DEX), will also be listing all six, including the Gemini dollar (GUSD) and Circle’s USD Coin (USDC).