Bitfinex employee

The disappearance of the canary certificate from the Bitfinex employee page may indicate the beginning of serious problems

The canary’s testimony, posted on the Twitter page of the developer and Bitfinex employee Chris Ellis, disappeared today, which may indicate the beginning of problems with the law on the exchange itself or at the issuer of Tether cryptocurrency tokens.

Writes about it Trustnodes

Blogger Bitfinexed noticed that the symbol with which someone can say that they have been silenced without speaking directly, suddenly disappeared from Ellis’s page..

A canary’s testimony is used to make it clear that something has happened, through silence or denial..

To better understand what is at stake, imagine the following dialogue:

— You’ve been silenced?
— No, I say whatever I think.
— You’ve been silenced?
— No, I say whatever I think.
— You’ve been silenced?
— I refuse to answer this question.

The person does not speak directly about what happened, but everyone already understands everything..

In Ellis’s case, there are two scenarios. Firstly, these are the actions of law enforcement agencies, which prohibited the persons involved in the investigation from disseminating certain information. This version may be supported by a change in Bitfinex’s policy, which has begun to increasingly request additional information from its customers..

Second option – this is Ellis’s own investigation into Tether and the likelihood that he may testify in this case.

As you know, on November 21, 30 million USDT were stolen, which once again forced everyone to pay attention to the possible connection between Bitfinex and the issuer of cryptocurrency tokens, each of which must be backed by the US dollar, and the volume of emission of which already exceeds $ 1 billion.

The questions do not end with this episode, as there are huge flows of money at Bitfinex, which has worked and continues to operate under the conditions of the bank blockade..

All this led to the fact that Bitfinex was forced to hire a new firm that represents the exchange and communicates on its behalf with the public. On December 1, the firm announced that it is ready to prove to a limited circle of people the innocence of Bitfinex and the fact that Tether is backed by US dollars, but only on the terms of signing a non-disclosure agreement (NDA).

This probably piqued Ellis’s interest because on December 2, he writes: «Now it seems to me that the theory «fake tether» – it is a logical error caused by incorrect fact matching. If I find any evidence to the contrary, I will announce it publicly.».

After that, in a dialogue with the commentator, he writes: «I work inside. Tell me where to look for the scam. I will continue to pull information as I find it. I need verifiable sentences, even if they are not essential».

The next day, Ellis turned to traders and said that he was not going to sign the NDA. A few hours earlier on Twitter, he wrote: «I said I would not do it. But I do not promise that I will get to the bottom of something. If I leave [Bitfinex] it will be huge damage».

At this point, Ellis appears to believe in the authenticity of Tether tokens, but something changes on December 4th..

«Okay, I got a copy of the document. I made an appointment with a legal advisor in Canada to discuss this matter», – he writes, commenting on the Tether audit.

Why he wanted to meet with a lawyer and what he wanted to tell is unknown. However, after that he wrote several more tweets, in the last of which he said: «No bank would borrow that kind of money from a cryptocurrency company. Tether doesn’t generate huge profits, but it does receive a percentage of the full reserve deposit with a withdrawal fee».

After that, Ellis did not get in touch, and the canary from his Twitter page flew away somewhere to report that something was wrong..

Photo: Zbigniew Kubasiak

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