We followed on the Bitcoin Arab website the merits of the case of the New York Attorney General who filed a case against iFinex, which operates both the Bitfinex platform and the digital currency Tether.

As a reminder, the lawsuit filed against Bitfinex relates to the case of the loss of 850 million Tether tokens and the transfer of Bitfinex to the Bitfinex platform, disguising and covering the shortfall by producing new units of usdt, as well as violating New York laws and defrauding New Yorkers.

The company had demanded iFinex drop the case brought against it by the Attorney General of New York, NYAG in the last court session.

Read:Huobi allocates $100 million to facilitate adoption of Metaverse technology

A new report emerges that the New York State District Court denied iFinex’s request.

Accordingly, iFinex is required to provide the necessary documents upon NYAG’s request to continue the investigation.

iFinex had argued with the New York attorney general that he did not have full powers to handle judicial matters and demanded that the case against it be dropped.

The New York court overturned this argument and ordered the investigation to continue.

This means that the court adheres to the decision and order of May 22, which determines the obligation to submit the necessary documents.

According to to speak iFinex is obligated to submit documents by October 14 to the NYAG Attorney General.

According to one of the legal advisors, the latest court decision is a surprising decision and development, but it is certainly not a welcome one for Bitfinex.

Read:Twitter suspends several accounts of crypto influencers

Read also:

New York attorney general asks Bitfinex and Tether to reveal details of the deal

Bitfinex: The attorney general’s accusation has hurt our work and the cryptocurrency market

Tether Mafia: 318 addresses control 80% of the total number of Tether coins