Bitfinex submitted an application on October 18 to a court in California for obtaining permission to take deposition testimony of the former vice president of TCA Bancorp. The exchange has alleged that Crypto Capital has used more than one account to facilitate the transfer of funds.
The company believes that Monroe has information and documents which could help them recover $850 million in frozen funds. Bitfinex has been trying for a long time to recover its funds that are with its payment processor Crypto Capital. Currently, Bitfinex is being investigated by the New York Attorney general’s Office for allegedly teaming up with Tether to cover up the frozen funds without disclosing to customers.
Bitfinex, in its filing, informed that its relationship with Crypto Capital was fine until April last year. Crypto Capital informed the exchange that $500 million of its funds are being held up by regulators in two countries concerning money laundering. When Bitfinex asked for more information regarding the frozen accounts, Crypto Capital provided a reference letter that was signed by Monroe from TCA.