Bitfinex'ed Hired a Lawyer to Fight Bitfinex

New stage of one of the hypest struggles in crypto community
13 March 2018   873

The Bitfinex'ed blogger, known for his criticism of Bitfinex cryptocurrency exchange, hired a well-known lawyer to defend his interests in the fight against a company that earned a controversial reputation. This is reported by CoinDesk.

Stephen Palley, a partner of the Washington-based law firm Anderson Kill, on Monday sent a formidable message to Bitfinex Chief Legal Adviser Stuart Högner. In his letter, Palli warned Högner that if he finds out that the threats that his client has received are worth Bitfinex, the exchange will "there will be legal consequences."

As you know, threats have been made and continue to be made against @bitfinex'ed. If we learn that your client is directly or indirectly responsible for these threats, or if any harm should take place to @bitfinex'ed as a result of these threats, there will be legal consequences.
 

Stephen Palley

Partner, Anderson Kill

Bitfinex'ed appealed to a lawyer back in December last year, when Bitfinex began to publicly threaten to hold him accountable, but until recently this fact was kept secret.

Although Palli did not explain the nature of the threats coming from Bitfinex'ed, the blogger himself reported last year that someone had offered a five-figure amount for information about him.

Bitfinex'ed also believes that the temporary blocking of his Twitter account was made after the service received a large number of complaints sent at the request of Bitfinex.

The blogger publishes detailed investigations that cast a shadow on the Bitfinex and the associated Tether cryptocurrency token issuer since August last year. He argues that Tether releases its USDT tokens, which have gained considerable popularity in the crypto currency market due to the stability of their exchange rate against the US dollar, without having a sufficient phyty reserve for this, which is a violation of the conditions for providing service to the company and jeopardizing the integrity of the entire market.

In January, the Bitmex Exchange published its own investigation, which stated that Tether does not necessarily engage in fraudulent activities and can be serviced by banks in Puerto Rico, but the associated risks associated with its tokens continue to pose a threat to the cryptocurrency community.

 

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   459

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.