According to the prosecution, Ivan Manuel Molina Lee is a member of the international drug cartel.   On Thursday evening, CASA, a transport aircraft, landed at Warsaw Chopin Airport; onto which Ivan Manuel Molina Lee was escorted into by the Polish police. Publicly known as the CEO of Crypto Capital, according to the Polish prosecutor’s office, he is also a member of the international drug cartel and has been prosecuted of international money laundering. Molina Lee was detained on the basis of a European Arrest Warrant issued by the prosecutor’s office in Wrocław. The RMF24 news source, which was the first to inform about the arrest of Molina Lee, reaffirms our own investigations, confirming that Molina is the president of the Crypto Capital company registered in Michałowice in Mazovia. This company, Crypto Capital – in turn, belongs almost entirely to a similar company in Panama, a company which maintains the deposit accounts of one of the largest cryptocurrency exchanges in the world, BitFinex, at the Bank Spółdzielczy in Skierniewice. ItContinue reading »

For the finale, let us show you where the Part I – III have been leading.  Though this is not the end of the “rabbit holes” we have been following, it is the point where we felt comfortable to really form a solid hypothesis of what is going on based on all of the data we have found.   Bank frauds As of April 30th, 2019, two individuals were charged with bank fraud in connections to cryptocurrency exchanges. Court documents released by the Justice Department reported that the alleged money services businesses operated between February and October 2018. It is interesting to note that this is within the same time frame as when Bitfinex saw $850mil disappear. Prosecutors say during this time, the two “opened and used numerous bank accounts at financial institutions that were insured by the [FDIC]”. [1] Two of the bank accounts named in the court document are allegedly held under the name Global Trading Solutions LLC, one apiece from HSBC Bank USA and HSBC Securities USA/Pershing LLC. GlobalContinue reading »

This is where the pieces come together. Have you noticed how often Bitfinex has been referenced in this story? It doesn’t feel like a coincidence.   Tether (USDT) Aside from the multiple incidences of hacks and lost funds, Bitfinex also still have to answer for their sister company’s controversies, Tether. It is no secret that Bitfinex and Tether have received subpoenas from U.S regulators. [1] Speculations that Bitfinex has been “operating a fractional reserve and is covering over its reserve deficit in complicity with Bitfinex” has existed since early 2017. These allegations are nothing new. [2] And remember when Bitfinex and CryptoCapital supposedly severed official relations? Not even a few months later, Bitfinex is still associated with CryptoCapital, and the relationship has not improved for the better.  According to statements in April 26, 2018, Bitfinex sent $850 million of customer and corporate funds to CryptoCapital Corp., and along the way it was “lost”. Representatives of Bitfinex and Tether reported to the NY Attorney General’s office that CryptoCapital claims the funds wereContinue reading »

Laundering money is one of the hardest things for cartels to do…so we are told.  As Part 2 unfolds,  we dig into the “potential” cartel involvement and start to paint the larger picture of how this is all intertwined together.   Cartel association On April 7th of 2018, reports originating from Poland sources informed readers that Polish prosecutors seized €400 mil from two companies, referred to as company M and company C, involving a long link of individuals and eventually leading to Bitfinex; and potential association to cartel involvements. [1] The story began when the Belgian Ministry of Foreign Affairs was in the process of building a new embassy in the Democratic Republic of the Congo. Company M, owned by a Canadian of Panamanian descent, impersonated the building contractor and intercepted the $400mil payment. Through an investigation with Interpol, it was revealed that company M was associated with company C, owned by a Colombian with Panamanian citizenship, who was in turn associated with a large online exchange of cryptocurrencies. PolishContinue reading »