Bitfinex to Pay Tether First $100M Of $700M Debt

In late April, the NY Prosecutor General’s Office charged Bitfinex with the fact that, having suffered a loss of $ 850M, it took money from affilated Tether
03 July 2019   1332

Bitfinex Cryptocurrency Exchange announced the beginning of the repayment of debt to its affiliated company Tether. As part of the process, Bitfinex transferred the first $ 100 million to Tether’s account.

In late April, the New York Prosecutor General’s Office charged Bitfinex with the fact that, having suffered a loss of $ 850 million, it concealed this fact, partially using the funds of its affiliate issuer of stablecoin Tether to cover the damage.

Later it turned out that these funds were frozen in the bank accounts of the Panamanian processing service Crypto Capital. Nevertheless, the exchange assured users that it is actively cooperating with the relevant departments to restore access to money.

In May, as part of the ongoing proceedings, it was confirmed that Bitfinex borrowed $ 700 million from Tether. Now the exchange has begun to return these funds.

Bitfinex made this payment in fiat wired to Tether’s bank account. This amount was not yet due to be paid to Tether under the facility, but Bitfinex has made the prepayment based upon its financial position at the end of the second quarter of 2019.

Also on July 1st, Bitfinex fully prepaid all interest accrued under the loan facility to Tether up to the end of day on June 30, 2019, also in fiat.
 

Bitfinex Team

At the same time, Bitfinex and Tether do not stop trying to stop the proceedings initiated against them, insisting that the authorities in New York do not have the appropriate authority or sufficient evidence against them.

According to CoinDesk, by July 8, the prosecutor's office may protest the position of the defendants. If this happens, Bitfinex and Tether will have time until July 22 to submit a response, after which the parties will have to meet again in court on July 29.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   317

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.