The Bitfinex cryptocurrency exchange is forced to respond to a new class action lawsuit, which it considers "mercenary and baseless.”
The exchange writes on its blog that a lawsuit against it and sister company Tether was filed with the Eastern District of Washington District Court on November 22. The company accuses its organizers of copying ideas from another similar lawsuit that was filed against it earlier this fall.
According to Bitfinex, the new lawsuit “suffers from the same multitude of deficiencies” and is based on “the bogus research,” which makes it equally insolvent.
As we predicted last month, mercenary lawyers continue to try to use Bitfinex and Tether to obtain a payday. To be clear, there will be no nuisance settlements or settlements of any kind reached. Instead, all claims raised across both actions will be vigorously contested and ultimately disposed of in due course. Once they are, Bitfinex and Tether will fully evaluate their legal options against those bringing and promoting the baseless claims.
Bitfinex promises to zealously assert its rights in the proceedings of both claims and expects that over time all charges against it will be dropped. Companies also intend to seek full compensation for their costs by the plaintiffs.
Among other things, in a statement, the exchange once again refutes information that Tether tokens were used to manipulate the market or did not have full dollar security.