The Wall Street Journal reports that iFinex (operators of the Bitfinex cryptocurrency exchange and owns Tether) has been accused of covering up missing funds.
- By commingling client and corporate funds
- occurred in mid-2018 and hadn't been disclosed publicly
- New York attorney general's office said it has obtained a court order directing iFinex to stop moving money from Tether's reserves to Bitfinex's bank accounts, halt any dividends or other distributions to executives and turn over documents and information.
- The coverup drained at least $700 million from Tether's reserves, according to the attorney general's office.
Here is the link to the WSJ for more (may be gated)
