Federal prosecutors have indicted Oz Yosef, a principal of Crypto Capital Corp., on three counts of bank fraud and conspiracy in cryptocurrency exchange Bitfinex's $880 million loss.
A key person in Bitfinex and Tether’s “missing” $880 million is now sitting in a Polish jail and is getting grilled by investigators.
A court on May 22 ordered New York State Attorney General Letitia James to prove her office has the right to sue Bitfinex and Tether for fraud and securities law violations.
The Tether stablecoin is backed in some part by bitcoins. David Miller, an attorney for Tether’s sister firm, cryptocurrency exchange Bitfinex, revealed in court last week that Tether has invested “a small amount” of the reserve dollars backing the tethers (USDt) in bitcoins (BTC). He added that the company had also invested in other undescribed assets.