Crypto News | Bitfinex Fraud Rumors

It would be too bad if Japan got to have all the fun with controversies, regulation and lawsuits. Luckily, we have Bitfinex. Lately, a lot of rumors have been circulating the web, either expressing concern or making unconfirmed accusations when it comes to Bitfinex fraud and Tether and associated bank accounts. Right now, news is emerging that Polish prosecutors have seized €400 million from an account at the Cooperative Bank in Skierniewice, PL. The account is allegedly linked with a Bitfinex fraud. A part of the money has been traced back to the Belgian Ministry of Foreign Affairs, obtained through illegal means. The owners of the account are said to be Colombian and Panamanian citizens. Authorities believe that they are using cryptocurrencies for money laundering purposes and are associated with drug trafficking. The fear is that Bitfinex may be playing along, since several Bitfinex users have reported that they have been questioned for having money sent to them from the accounts that are now seized.

Luckily, there are some good news today, as well – and from India, of all places. In spite of all the regulatory uncertainty, Coindcx, a new cryptocurrency exchange, will be launching a different trading platform. Since the Reserve Bank of India has barred banks from dealing with crypto traders, the new platform will trade cryptocurrencies exclusively. It will cater to millions of users in India who already have crypto assets in their possession, but do not want to sell them off. Now that the market is down, most of these users, who bought cryptocurrencies between October and December, would be forced to sell them at a loss. Coindcx is offering an alternative, with more than 30 trading pairs.

With major cryptocurrencies recording considerable losses, a bit of good news is precisely what the crypto space needs. We’ve been reporting often on this year’s worst performing cryptocurrencies, partly because it is what interests the majority of readers, partly because the overall trend has been negative. Every single one of the top 20 coins has incurred losses this year – Bitcoin, for example, lost 58% of its value. On the bright side, two coins are up since the start of the year. One of them is Digixdao, a coin backed by gold, with 12% gains. The other one is bytom, a Chinese altcoin – currently up 2%. Although not too impressive, the fact that they are in the green makes these coins the year’s biggest winners. Other great performing coins were listed only recently, such as Ontology, CasinoCoin, and Mithril.

What really matters is that more and more retailers are adopting BTC in the US and Canada according to recent surveys, which means that the legitimacy of bitcoin as a global currency is increasing in the eye of the public.


Recommended reading

Author's overall rating:
Author: Max Rothstein

RISK DISCLAIMER has taken reasonable measures to ensure the accuracy of the information in the website, however, does not guarantee it. The data exhibited in this website is not necessarily always real-time or completely accurate; this includes market analysis, forecasts, signals, assets’ price quotes and charts. Readers should not treat any opinion expressed by the authors of as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of their current opinion. The risks involved in trading binary options are high and may not be suitable for all traders. doesn't retain responsibility for any losses readers might face as a result of using the information presented in this website. This website is owned by Next Media Corp.
In accordance with FTC guidelines, has financial relationships with some of the products and services mentioned on this website. may be compensated if consumers choose to click links in our content and ultimately sign up for mentioned products.
Binary options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page.