Bitfinex Threatens Lawsuit on Critics, Including Twitter Whistleblower @Bitfinexed, for being "Bad Actors"

Bitfinex has decided to cash in on their (illicit) earnings by hiring a PR firm and an international law firm...to "protect" their good name. Instead of...you know...just answering the very legitimate concerns that have been raised by the whistleblowers.

“To date, every claim made by these bad actors has been patently false and made simply to agitate the cryptocurrency ecosystem,” Stuart Hoegner, in-house counsel for Bitfinex, said in the announcement. “As a result, Bitfinex has decided to assert all of its legal rights and remedies against these agitators and their associates.”

Read the entire article at Bitcoin Magazine. (Image sourced from there as well.)

Well, I can very easily show that not every claim they've made has been patently false. They have not released an audit of their holdings, they lied when they claimed they contracted a firm to do it (and later said they did not in fact approach the firm they said they were going to), and they have printed an obscene amount of money.

Maybe @bitfinexed should consider a countersuit?

But, this is just all grandstanding anyway. It doesn't actually matter, because...

It's all Hot Air...

If Bitfinex actually followed through on their claims, they'd have to actually open up their books to show that they are, in fact, not lying about how much cash they have on hand and how they've acquired it...

Which, of course, is the very thing they've been trying to avoid!

They've been "under audit" for years now...and, shocker...they've never released one. The best they've done is release a consulting report from a firm they hired that said that the money is there...with footnotes that they can't verify whether Tether has access to those funds.

And even that report was from many months ago, well before they printed over $375 million Tether and counting.

There is serious market manipulation happening here, with multiple cryptocurrencies...

Get your money off of Bitfinex ASAP!

It's only a matter of time before a serious drop. Consider cashing out at least a small portion of your BTC holdings before the next crash...Tether is being used to prop up the Bitcoin market. Have you seen that huge IOTA pump over the last few days? Can you guess where it's coming from?

You guessed it! The Tether/IOTA pairing on Bitfinex.

GET YOUR COINS OFF OF THE EXCHANGES. If you don't own your private keys, you don't own your coins, plain and simple.

This post is a continuation of my previous posts about the risks presented to the cryptocurrency ecosystem by Tether and Bitfinex. You can read them here:

Widespread Cryptocurrency Price Crash Imminent Due To Bitfinex and Tether

Do you have money on Bitfinex? You might want to read this.

Tether Prints $325,048,400.00 USD in the Month of November

How Tether is Pumping Up and Propping the Bitcoin Market in One Simple Chart

Tether Shareholder Report Leaked: Links Between Bitfinex and Tether Confirmed

Question to Bitfinex CFO Giancarlo Devasini: "Can you create a Willy Bot to take us to $10k?" His Response: "Currently working on it..."

Tether Deposits and Withdrawals are "Blocked"

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