NY Attorney General’s office alleges “substantial evidence of fraudulent conduct” at Bitfinex and Tether

The New York Attorney General's office submitted opposition to Bitifinex's motion to vacate or modify the given court order, citing a violation of the Martin Act. The NY AG claims their investigation into the relationship between Bitifinex and Tether ($USDT) uncovered substantial evidence of fraudulent activity, such as the covering of Bitifinex balances with Tether funds. The Martin Act gives explicit permission to investigate suspected securities fraud.