Bitfinex’s Claim of Exclusivity

Despite Bitfinex’s announcement back in August 2017 that they kicked U.S.-based traders to the curb due to banking woes, some crafty New Yorkers are waving their virtual wands and accessing the platform like it’s an exclusive club they somehow slipped into.

A Cheeky Username and a Simple Trick

In a recent twist, an anonymous trader decided to register an account with the rather amusing username “ImaNYresident.” This savvy trader reportedly managed to access Bitfinex by just declaring, “I am not a U.S. resident,” when prompted. It seems that all it takes to find your way around some fancy restrictions is a little bit of mischief and a click!

The Great Jurisdiction Conundrum

This raises eyebrows amidst the ongoing tussle between Bitfinex and the New York Attorney General (NYAG). The NYAG has accused Bitfinex of dodging the law with a $850 million loan flounce between Bitfinex and Tether. As it turns out, jurisdiction could play an essential role in whether or not traders in New York can continue to access the platform. After all, if you can be a ‘New Yorker’ and still get in, where do the legal implications land?

Legal Tug-of-War: Bitfinex vs. NYAG

Lawyers representing Bitfinex and Tether are throwing around claims like hand grenades. They’re contending that the NYAG has flubbed their facts, claiming they have failed to adequately demonstrate that the platform serves New York customers. In a legal landscape shaped by electrons and ambiguity, the connection between Bitfinex’s operations and New York happens to be as flimsy as a wet noodle.

What’s Next for Bitfinex and NY Traders?

As this multi-million-dollar chess match continues to unfold, the question remains: how long can traders in New York keep bypassing a proverbial velvet rope? Until Bitfinex officially bars the door for good, the door remains ajar for those with adventurous spirits and optimistically cheeky usernames. Meanwhile, we’re left waiting to see if Bitfinex has something to say about this odd little loophole—or if they’re just enjoying the show.