Bitfinex CEO Jean Louis van der Velde e-mailed the cryptocurrency exchange's traders today to update them on the lawsuit filed against Bitfinex and Tether by the New York State Attorney General's office on Thursday, April 25, 2019. According to van der Velde, the filing is "filled with inaccuracies and false assertions."
He claims that Bitfinex and Tether were "co-operating fully with New York authorities" in the inquiry and that the lawsuit and related materials were "filed without notice to [Bitfinex and Tether] or a chance to respond to them." van der Velde continues with an assurance to traders that the allegation of a loss of $850 million is "categorically false." He claims Bitfinex and Tether were "advised that these amounts – whether in whole or in substantial part – are, in fact, seized and safeguarded in several jurisdictions, including Poland, Portugal, the United Kingdom, and the United States." The firms are actively working on the release of those funds using "clear, coherent, and convincing arguments."