Manipulation lawsuit filed against Bitfinex and Tether

The manipulation case that started with Bitfinex and Tether also spread to other cryptocurrency exchanges Bittrex and Poloniex.

Following changes to the suit filed for leading digital currency exchange Bitfinex and stable cryptocurrency Tether (USDT) executives, they were again called to court on Wednesday. This time, the plaintiffs also blamed two other major exchanges, Poloniex and Bittrex.

Change in crypto manipulation case from complainants

In the case at the South New York district court, the complainants accused Tether, the defense authority, and his sister firm, Bitfinex, by willingly and knowingly manipulating the digital money market. This manipulation lawsuit filed for the two companies was first put on the table in October last year.

The complainants stated that there was no US dollar behind the USDTs, which were specified as billions of dollars in their files in this period. So accordingly, they created USDT fixed coins out of space and used them as US dollars.

The complainants also claimed that Tether had sold USDTs in its sister company, Bitfinex, to hide this situation. According to the charges; Using the link between Tether and the stock market, the money was transferred to the Bitfinex exchange without changing the USD and USDT as requested from the customers.

Now Poloniex and Bittrex

Poloniex and Bittrex exchanges were included in the 156-page manipulation case, the contents of which were recently changed. The complainants stated that Tether fixed coins, which do not have US dollars behind, have been transferred to these exchanges and the stock exchanges are aware of this.

$ 1.4 trillion loss claim

According to the case files; the two exchanges accepted the USDTs that came to them and were not supported by the US Dollar and allowed them to be used on their platform. According to the complainants in the case, the damage at the end was $ 1.4 trillion.

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