Is Bitfinex a partner in Crypto Capital’s money laundering fraud? – Crypto Capital News

Bitfinex has denied the accusations of money laundering, claiming that the network was conned. The crypto exchange has stated that it fell "victim of a fraud" at the hands of a payment processor, Crypto Capital. The capital allegedly lost $880 million of Bitfinex's money, and its president was arrested regarding the same. Bitfinex has asserted to pursue the lost funds. Stuart Hoegner, the general counsel, has dismissed the reports of the exchange carrying out illicit acts.

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The prevalent crypto exchange, Bitfinex, has refuted playing any part in any illicit activities. The platform has claimed that it scammed as it was the “victim of a fraud” from the Crypto Capital. 

Crypto Capital, the payment processor, purportedly lost amount worth $880 million of Bitfinex’s money, and Ivan Manuel Molina Lee, the president of the capital, was seized this Thursday by Polish authorities on charges of money laundering. As per the officials, Molina Lee is indicted for the crimes, including “laundering dirty money for Columbian drug cartels using a cryptocurrency exchange.” 

Stuart Hoeger, Bitfinex general counsel, stated, ” We cannot speak about Crypto Capital’s other clients, but any suggestion that Crypto Capital laundered drug proceeds or any other illicit funds at the behest of Bitfinex or its customers is categorically false.”

Bitfinex has declared that it will “make its position clear” to the United States and Poland authorities. The exchange stands firms to obtain back the funds the Crypto Capital has expended. As per the statement, Crypto Capital has misled its “integrity, banking expertise, robust compliance program, and financial licenses” to the crypto network

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Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

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