The anonymous Bitfinex blogger, who markets his blog as a place to "expose possible fraud by The biggest Bitcoin exchange, Bitfinex / Tether, "would have hired Steven Palley's DC lawyer as part of a potential legal battle between the blogger and the exchange.
Bitfinex is currently the third largest stock market over a 24 hour period according to CoinMarketCap data, trading a total of about $ 987 million per press time.
Once reached for comment, Palley declined to make a statement for security reasons. Palley was able to confirm that the following is a specific snippet of a letter that he sent to Bitfinex's legal counsel, Stuart Hoegner:
"As you know, Threats have been made and continue to be uttered against @bitfinex If we learn that your customer is directly or indirectly responsible for these threats, or if damage should be caused to @ bitfinex's ed as a result of these threats there will be legal consequences. "
Neither Bitfinex nor Hoegner had responded to requests for comments by press time.
In December of last year, Bitfinex claimed to have started legal action against its critics, including the anonymous blogger Bitfinex & # 39; ed. The problem of Bitfinex's with exchange, as detailed on the blogger's middle page, is Bitfinex's relationship with Tether, a cryptocurrency backed by the US dollar
Tether and Bitfinex share leadership, and both entities were served by US regulators in December of last year, apparently as part of a "routine" petition in the legal providence of Tether.
Tether and Bitfinex have since come up against controversy because of what critics view as a lack of transparency in the USD reserve, which they say does not match the amount of printed Tether. A promised third party audit has not yet taken place after Tether broke his relationship with his auditor in January of this year.
A study published in mid-February indicated that, even though it is likely that there is the amount of cash reserves – purportedly held in a Puerto Rican bank – for the amount of Tether currently in circulation, the currency is facing the problem of being closed because of the difficulty of complying with anti money laundering laws with its current structure.