Bitfinex and Tether have again been accused of manipulating the bitcoin market

Bitfinex, Tether and its parent company iFinex have been accused of manipulating the bitcoin market, according to BlockBeats. The case was originally filed in federal court in Washington state, but the plaintiffs dropped it on January 7 and refiled it the next day in the southern district of New York.

One of the lawyers involved, Karen Lerner of Kirby McInerney LLP, said Friday that the case had been refiled in the Southern District of New York court. The case was previously filed in federal court in the us state of Washington.

Plaintiffs Eric Young and Adam Kurtz  The suit was withdrawn on January 7 and reinstated on January 8. The case, which began in November, alleges that Bitfinex and Tether published inaccurate information and "monopolized and conspired to monopolize the bitcoin market," BlockBeats previously reported. The plaintiffs in the new case added a new name, David. Of the people.Bitfinex and Tether deny the allegations contained in the lawsuit, calling the practice "worthless and mercenary." Stuart Hoegner, Bitfinex's general counsel, dismissed the refiled suit in similar terms when contacted for comment.

From October 1, 2014 until now, the defendants manipulated the price of bitcoin through their unique way of controlling and issuing stable U.S. dollar COINS, according to the indictment. The defendant's failure to issue stable dollar COINS at a 1:1 rate artificially inflated the price of bitcoin, benefiting the defendant. The plaintiffs also accused the defendants of manipulating the market for bitcoin derivatives, including bitcoin futures traded on the Chicago mercantile exchange. "Bitcoin and bitcoin futures move in the same direction," the amended lawsuit says. The plaintiffs are seeking injunctive relief and monetary damages, to be determined at trial.

Original address:https://www.theblockcrypto.com/post/52634/

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