Although Bitfinex has restricted its services to US-based traders, a recent event has just proved otherwise .
Simple and unsuspected infiltration
In August 2017, Bitfinex announced that its services would be closed for US customers for a certain period due to difficulties in obtaining banking services.
Despite this statement, it would be fair for an American trader to indicate in a contextual request that he is not a US citizen to use the platform.
And as proof, an anonymous trader would have experienced by creating a platform account.
Although the name he entered suggests that he is indeed a resident of New York “ImaNYresident”, he was able to access the platform by simply selecting a response stating that he is not an American resident, and this, even though his IP address would be based in New York.
NYAG tries to shed light on the case
A lawsuit accusing Bitfinex has sparked heated debate over the possible discovery of these unwanted leaks into the crypto-purse.
The question of whether the platform actually develops on New York territory or not is currently at the heart of the discussions.
In fact, New York State Attorney General (NYAG) accuses Bitfinex of breaking the law by granting a loan of 850 million dollars to his close associate Tether, with the assumption that New York traders would be involved in this loan.
If it is proven that the company had never served New York clients, the New York court could declare itself incompetent, since it does not act within its jurisdiction. And with that, the New York law could not be applied to society.
The contrary case is difficult to prove by the NYAG, which would lead to the conclusion that Bitfinex could certainly also succeed.
What do you think of the likely outcome of this case? Share your opinion in the comment section below.