Cryptopia to Transferred 35% of Assets to New Wallets

Finally, the exchange has advanced to the stage of collecting assets on new wallets
14 March 2019   493

The hacked New Zealand cryptocurrency exchange Cryptopia reported on the measures it continues to take in preparation for the restart of its platform. To date, the exchange has advanced to the stage of collecting assets on new wallets.

As we prepare to open we have secured 35% of coins on our exchange to new wallets. We need to complete this exercise fully prior to opening the exchange. Please keep an eye on our page for further updates on this.
 

Cryptopia Exchange @twitter

This week, the exchange also stated that it had implemented the possibility of canceling applications that were posted by users before the hack was made in mid-January. The trading platform API is still disabled, so users need to cancel orders via the website. The company later resumed its support service so that users could resolve issues related to the reset of two-factor authentication and passwords. 

Earlier, representatives of Cryptopia stated that they could not resume trading on their platform, despite permission from the police, until they completed a number of procedures aimed at preventing further violations in its activities.

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   990

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.