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The Bitfinex Hack and Tether's Untold Story - Part 3: The paper trail behind the peg
Season 15
Episode 3
Published 1 month ago
Description
Once the rescue money moved, the fraud question became much more ordinary, and much more dangerous. It was no longer about hackers alone. It was about ledgers, transfers, and what the public was allowed to believe about them.The Department of Justice later alleged that Bitfinex and Tether turned a catastrophic loss into an accounting problem. In August two thousand sixteen, Bitfinex said hackers stole roughly one hundred nineteen thousand seven hundred fifty-six bitcoin from the exchange. At the time, that was worth about seventy-two million dollars. The number was huge, but not so huge that the market instantly collapsed. That gave the companies time. And in fraud cases, time is often the most valuable asset of all.Learn more at: https://thefraudarchive.com/fraud/bitfinex-tether
The Fraud Archive is part of The Archive Network by Jonkai Ventures, a collection of podcasts dedicated to exploring history's greatest cons, scams, and financial crimes.
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