Bitfinex falls prey to “Streisand effect” as it attempts to silence critics

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September 18, 2018 by
Bitfinex falls prey to “Streisand effect” as it attempts to silence critics

Cryptocurrency exchange Bitfinex has actually tried silencing Bitfinex’ ed, a singing doubter on Twitter, which has lastly led to what is widely known as the “Streisand impact”. This sensation, named after American singer and also actress Barbara Streisand, describes an effort to censor information readily available online, leading to increased attention of the attempt and also at some point, simply makes matters worse. Such an event is not unusual each time when social networks is growing and also Bitfinex is the most recent to come under such a catch.

The Hong Kong-based crypto exchange has actually been the target of many critics, yet one specifically has really ticked the system off. The unrelenting critique as well as insurance claims of Twitter user Bitfinex‘ ed led to the exchange connecting to lawful company Steptoe & Johnson to run into the doubter.

Inning accordance with reports, “A singing crypto critic states robot military obtained him suspended by Twitter. Twitter Inc. has put on hold an account that’s been just one of the loudest doubters of electronic money exchange Bitfinex and also its associated cryptocurrency Tether. The writer, known only as @Bitfinexed, decreases to determine himself, stating he’s concerned regarding his safety and security.”

The suspension of the doubter’s account comes at a time when the crypto exchange as well as Tether are encountering a host of controversies. Once the link between these 2 companies came to light, Tether instantly revealed that Friedman LLP, a New York-based audit company, was auditing its financial books.

In an attempt to respond to the installing criticism it was facing, Tether released certain preliminary bookkeeping documents. Movie critics quickly assaulted the business for giving such inconclusive documents.

On top of that, Tether had likewise ended its partnership with its auditor, stating that an audit could not be conducted in a “affordable time frame”. The firm has actually not yet revealed when a proper audit would be carried out.

Various other actions of the movie critic
This is not the first time that the movie critic on Twitter has actually voiced out allegations against considerable crypto firms such as Tether as well as Bitfinex. Earlier, the account had actually assaulted noteworthy personalities from the crypto room for being involved in illegal activities. The customer likewise implicated Charlie Lee, owner of Litecoin, of being involved in insider trading activity at a time when he was currently Coinbase’s CTO.


Brunda is currently a Blockchain Correspondent at Kranbitcoin and has been in the journalism industry for more than 4 years. She churns out different articles on cryptocurrency and Blockchain technology. With writing as a passion and profession, she has previously written several articles on lifestyle, health, cricket, and entertainment. When she is not writing, she is busy binge-watching TV shows or movies.

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