AtlasRand - Slashdot User

Comment I'm the one that submitted this story (Score 1) 79

by AtlasRand on Sunday April 09, 2017 @06:22PM (#54203463) Attached to: Bitcoin Exchange Sues Wells Fargo Over Massive Wire Transfer Suspension

the price of bitcoin has recovered around $300 since March 25th, however this is only because people have no way to get money out of bitfinex except to buy bitcoins. there are complaints about delayed withdrawals from multiple users who tried to withdraw just before the price run up http://i.imgur.com/O7IWseg.png

Submission + - Bitcoin Exchange Bitfinex Sues Wells Fargo Over Wire Transfer Suspension (bitcoin.com)

Submitted by Anonymous Coward on Sunday April 09, 2017 @02:30PM

An anonymous reader writes: Bitfinex, on Wednesday, filed a lawsuit against Wells Fargo for suspending its outgoing U.S. dollars wire transfers. In addition to “a preliminary and permanent injunction against Wells Fargo,” the exchange is seeking compensatory damages in excess of $75,000 and any additional relief the court may deem fair as well as a jury trial for the case.

The court document states that Bitfinex is a customer of four Taiwan-based banks but is not itself a customer of Wells Fargo. However, its banks in Taiwan use Wells Fargo as a correspondent bank to process U.S. dollar wire transfers, which is a normal practice in cross-border payments.

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