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Tether’s sister crypto exchange, Bitfinex, faced an attempted exploit leveraging a feature of the XRP Ledger network. CEO Paolo Ardoino confirmed on X that the exchange successfully thwarted this attempt.

He converted bitcoin to other forms of cryptocurrency, including anonymity-enhanced cryptocurrency (AEC), in a practice known as “chain hopping”; deposited a portion of the criminal proceeds into cryptocurrency mixing services, such as Bitcoin Fog, Helix, and ChipMixer; used U.S.-based business accounts to legitimize their banking activity; and exchanged a portion of the stolen funds into gold coins, which Morgan then concealed by burying them.

Tether’s sister crypto exchange, Bitfinex announced that it has made an undisclosed investment in OrionX, a Chilean crypto exchange, as part of its strategy to expand its presence in Latin America. The specific details and financial terms of the investment were not disclosed.

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