Episode #24
Polish prosecutors may have seized around €400 mln from 2 bank accounts allegedly linked to top cryptocurrency exchange Bitfinex, according to unconfirmed reports from media outlets on April 7.
Trustnodes.com published possible connections between Btifinex, Crypto Capital Corp, an alleged for-hire Panamanian company nominee director, and a tiny bank in the Polish country side, in November 2017 investigative report. (https://www.trustnodes.com/2017/11/22/bitfinex-reveals-new-polish-bank-account-panama-registered-company)
The Panamanian national is alleged to have ties to Bitfinex and control over one of the accounts, where customers made deposits directed for Bitfinex through 2017. An unidentified man claims to have been questioned by Polish authorities, after receiving a payment from the alleged bank account in question, which apparently contributed to the allegations of money laundering.
Bitfinex’s cold storage holds roughly 1% of all bitcoins in circulation equaling about $1.5B USD in value, according to bitinfocharts.com, and remains one of the largest crypto exchanges.
Legal authorities currently are investigating the misuse of cryptocurrencies for illicit purposes in over 30 countries worldwide and there have already been high profile arrests, including that the CEO of worldwide classifieds site Backpage.com.
Money laundering is not a new issue created by or even limited to cryptocurrency.
Earlier this year, the Chief of the International Monetary Fund (IMF) highlighted the need to develop anti-money-laundering (AML) strategies for cryptocurrencies within a global framework, but the a stern focus still needs to be placed on the world's banking giants.
For decades, billions—possibly trillions-- of dollars in dirty money have been illegally moved through some of the biggest traditional banks in the world, including:
• HSBC
• Industrial and Commercial Bank of China
• Standard Chartered Bank
• Wachovia which is now a part of Wells Fargo
From just these names alone, it adds up to a whopping $794 B USD.
It would be so awesome if international regulators crack down on the banking institutions that continue to control the vast majority of the worlds assets.
Until then, guard your coins and buy & sell only with trusted exchange partners.
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