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ID:

bitfinex-626

Date:

Status:

Incident Count:

April 26, 2019

Verified

3

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

851,000,000

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Recovered:

-

Rewards:

Currency:

USD

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Bitfinex is accused of sending 850 million U.S. USD to Crypto Capital Corp, a payment processor believed to be located in Panama, without informing customers, and withdrawing at least 700 million U.S. USD from Tether's reserves after the funds were lost. Bitfinex for its part in teh event, paid $42.5M to settle the US CFTC charge (https://www.reuters.com/technology/tether-bitfinex-agree-pay-425-mln-fines-settle-us-cftc-charges-2021-10-15/). In addition, in a separate order, firms doing business as Bitfinex agreed to a $1.5 million penalty over charges their controls were not adequate to keep U.S. customers from illegally engaging in retail commodity transactions on the exchange.

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