Bitfinex refused to block digital assets of Russians
The exchange has come out in support of Russian citizens who have not been sanctioned, but the final decision remains with the regulatory authorities
11.03.2022 - 15:55
550
2 min
0
What’s new? Bitfinex, a cryptocurrency trading platform, will not freeze the accounts of non-sanctioned Russian users, a spokesperson for Cointelegraph said. He also stressed that the crypto exchange has taken appropriate measures with regard to the accounts of Russian customers on the sanctions list. According to Bitfinex, the government’s actions do not always reflect the wishes of individuals, so blocking ordinary citizens is unfair.
What is known about Bitfinex? It is a Hong Kong-based cryptocurrency exchange founded in 2012 and owned by iFinex Inc. In 2016, the exchange suffered a hacking attack that resulted in 120 000 BTC being stolen from users’ accounts. In February 2022, the stolen digital assets began to move and in the same month, the couple who committed this crime were arrested.
What preceded it? Earlier, the crypto exchanges Kraken, Binance and Coinbase refused to block Russian users who were not subject to economic restrictions. The South Korean cryptocurrency exchanges and the developers of the MetaMask cryptocurrency wallet have joined the sanctions against Russia. The exchanges such as Kuna, WhiteBit, and CEX.io completely blocked the accounts of Russian customers.
Useful material?
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024
Market
The founder of the exchange announced his readiness for years of legal proceedings to prove the legality of its operation
Apr 11, 2024
Mining
According to Fred Thiel, this event has already been factored into the price as a result of the high demand for BTC ETFs in the United States
Apr 10, 2024
Crypto regulations
Native tokens for this amount will be placed in the Stride liquid staking protocol
Apr 8, 2024
Mining
In the run-up to the event, there was a noticeable increase in the blockchain hashrate
Apr 4, 2024