Badu.com, a Chilean crypto exchange, has claimed that the allegations that it moved customers' funds without permission from the proper authorities are false. These allegations were made by Itau and the case will be investigated and treated by the Chilean tribunal.
The bank first lodged its complaints in February before emphasizing its stand that the exchange is committing fraud by breaching rules and regulation. The bank also explained that Badu is using a fake profile to carry out fraudulent acts.
The report also furthered that on detecting the alleged acts, the client involved lodged its complaints with the public ministry. However, Itau also continued its standing claim against Badu by reporting that the crypto exchange doesn't have an effective compliance service.
In response, Badu expressed shock and surprise at the allegations. The spokesperson, Vera stated that the reason for the allegations by the bank was unknown and explained that the credentials were stolen from the customer's account with Itau and not Badu.
He also dismissed allegations that the Badu refuses to follow regulations. This is not the first time the Chile Tribunal is involved in settling a disagreement between the two parties.
Source: News.bitcoin
