Bitfinex is firing back against the NY AG claims saying “The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions.”
Essentially the NY AG office put out a report claiming that the Bitfinex / Tether parent company lost $850 million in funds and tried to cover it up, and Bitfinex refuting them saying that actually the money had been “seized and safeguarded” and they were in the process of trying to get the funds back. Further, they said that the NY AGs should be helping them to get the funds back and not undermining their efforts.
Here is a copy paste of the official statement from Bitfinex (TIP: click here to learn about the claims and read the official report from the NY AG office):
Earlier today, the New York Attorney General’s office released an order it obtained – without notice or a hearing – in an attempt to compel Bitfinex and Tether to provide certain documents and seeking certain injunctive relief.
The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers.
Bitfinex and Tether have been fully cooperative with the New York Attorney General’s office, as both companies are with all regulators. The New York Attorney General’s office should focus its efforts on trying to aid and support our recovery efforts.
Both Bitfinex and Tether are financially strong – full stop. And both Bitfinex and Tether are committed to fighting this gross overreach by the New York Attorney General’s office against companies that are good corporate citizens and strong supporters of law enforcement. Bitfinex and Tether will vigorously challenge this, and any and all other actions, by the New York Attorney General’s office.