The British Supreme Court requires Bitfinex to freeze a user account that holds more than $ 800,000 for this reason!
A UK court has ordered the Bitfinex platform to freeze a number of bitcoins worth $ 860,000 after Chainalysis, which tracks cryptocurrency transactions, tracks Bitcoin units (BTC) and links it to the "pay-off" case.
One of the victims of the ransom attack paid $ 950,000 in bitcoin to the perpetrator through an insurance company, according to a report published by the High Court of England and Wales (Commercial Court) last week.
Some bitcoins were converted into fiat currencies, while the remainder was sent to an address on the “Bitfinex” platform. The court ordered the “Bitfinex” platform to freeze the address and share the customer’s knowledge information (KYC) of the account owner.
The victim, a company whose identity has not been released, has been informed that she previously paid a bitcoin after her computers were hacked and locked by the ransomware.
The insurance company of the company, which sued the court, eventually paid $ 950,000 in the form of 109.25 bitcoin units.
While some of that money was transferred to banknotes, 96 Bitcoins worth 860,000 were sent to an address on the "Bitfinex" platform.
Maddie Kennedy, Communications Director of Chainalysis, stated:
A leading online insurance company has used Chainalysis to investigate ransom payments made on behalf of its clients and track the flow of funds from extortion to well-known services such as trading platforms.
A large amount of this ransom was tracked to a Bitfinex user, and insurance company attorneys successfully filed a petition to freeze this money.
The Bitfinex platform and parent company “iFinex” are listed as defendants in the lawsuit.
However, the platform stated in a statement that it was working with the claimant to track the Bitcoin and not accept that it was now seen as being involved in the crime.
Her statement also stated:
Bitfinex has robust systems that allow it to assist law enforcement authorities and litigants in such cases.
We understand that claimant focus is no longer on Bitfinex.
It now appears that Bitfinex is a completely innocent party to this bug.
Platform spokespeople declined to confirm whether Bitfinex had provided “KYC” information for the account associated with the address.
However, the court ruling stated that “Bitfinex” will provide the information as long as it has a court order to comply with it.
The text of the ruling reads as follows:
It is fair to say that Bitfinex and iFinex, at least for the time being, have cooperated with the claimant in the following sense:
That is, in email communications they indicated that they were unable to comply with any order to identify any person associated with the account, in the absence of a court order.
But they indicated compliance with the court order.
The judge imposed a deadline for the Bitfinex platform to deliver the information.
For this reason, a user account has been frozen with more than $ 800,000
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Oleh
MEROUANE ATIK
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