• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Rumble to Launch Bitcoin and Stablecoin Wallet by 2025

    Rumble to Launch Bitcoin and Stablecoin Wallet in 2025

    Rumble to Launch Bitcoin Wallet With Tether in 2025

    Bitcoin Whale Accumulation Reaches Record Highs in May 2025

    Coinbase Launches 24/7 Bitcoin, Ethereum Futures Trading

    Coinbase Initiates 24/7 Bitcoin, Ethereum Futures Trading

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    XRP Whale Movements Hint at Possible Bullish Breakout

    XRP Whale Transactions Signal Potential Price Surge

    Solana Meme Coin MOODENG Surges 150% Amid Trading Spike

    Shiba Inu Token Shows Bullish Signals Amid Market Fluctuations

    Ethereum’s May Rally Signals Potential New Altcoin Season

    Binance Confirms Doodles Token Airdrop for Eligible Holders

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Bitfinex Funds Seized by The US Government Due to Fraud Connections

Anca F. by Anca F.
May 2, 2019
in Latest News
bitfinex fraud

$850 million dollars from Bitfinex’s account have been seized by the US government after an HSBC account federally charged for bank fraud was found to be connected directly with the exchange.

A part of Bitfinex’s $850 million funds has been confiscated by the U.S. Department of Justice (DoJ). A businessman called Reginald Fowler was arrested for setting up various false bank accounts which he used to move money by using Bitfinex to bypass bank and federal laws.

The seized funds in question were allegedly used in the bank fraud by making covert transfers in USD to the exchange’s users.

The accusations focus on Reginald Fowler and how he committed fraud by using unnamed cryptocurrency exchanges, to sidestep U.S. banks that ceased working with companies that dealt with digital currencies. Fowler and the undisclosed exchanges lied that the accounts used were only for cryptocurrency use.

The HSBC USA account with the 141000147 number is the main account in the fraud indictment. In addition to the fiat problem Bitfinex is facing, the exchange has also seen a huge outflow of cryptocurrency, which made withdrawing hazardous for its clients.

Bitfinex has had issues in finding a banking partner after Wells Fargo ceased their partnership with them.

In 2018 Bitfinex used the payment processing services of Crypto Capital, a private Panama-based financial entity. Crypto Capital announced Bitfinex that the $850 million they managed with them in the US, Poland, and Portugal were seized by US authorities.

“The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released.”– posted Bitfinex on their website.

But less than a month ago CryptoCapital removed Bitfinex from its list of clients. CryptoCapital had issues and it tried to hide from the banks the real purpose for what the accounts were used. This has led to funds being frozen and prompted US authorities to make arrests in matters of ad-hoc banking with cryptos.

The investigation also showed that Reginald Fowler was involved with Crypto Capital.

Seeing as it has gone tough some serious hacks, Bitfinex’s reputation has taken another blow from the news of fraud and frozen funds.

Featured Image: Bitcoin News

Tags: account fraudbitfinex fraudBitfinex frozen fundsBitfinex seized funds
Previous Post

1 Billion Ripple (XRP) Tokens Moved From Ripple’s Escrow Account

Next Post

Blockchain.com Adds Support To PAX Stablecoin

Anca F.

Anca F.

Related Posts

BlackRock Discusses Crypto with SEC’s Task Force

by Solomon M.
May 10, 2025

BlackRock engages with SEC Crypto Task Force on emerging crypto regulations and products.

Crypto Sentiment Index Reaches “Greed” Territory at 73

by Solomon M.
May 9, 2025

The Crypto Fear and Greed Index has reached 73, indicating increased investor optimism and potential market caution.

Crypto Fear and Greed Index Rises to ‘Greed’ Level

by Solomon M.
May 9, 2025

The Crypto Fear and Greed Index hits 73, reflecting rising bullish sentiment in the cryptocurrency market.

Democratic Senators Investigate Trump’s Binance Connections

by Solomon M.
May 9, 2025

Senators scrutinize Trump's financial ties to Binance, impacting stablecoin legislation.

Federal Reserve Reduces Balance Sheet by $14.34 Billion

by Solomon M.
May 9, 2025

Federal Reserve cuts $14.34 billion from its balance sheet, impacting liquidity and risk assets.

WhiteBIT Launches Global Crypto Trading Championship Live Stream

by Solomon M.
May 9, 2025

WhiteBIT initiates the first live-streamed global crypto trading championship, ICTC 2025, on May 9-10.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.