The Wall Street Journal is currently facing a defamation lawsuit regarding an article that allegedly falsely implicated a Thai-based aviation fuel broker and his company in illicit activities at Tether and Bitfinex, a cryptocurrency exchange. Christopher Harborne, owner of AML Global Ltd., filed the lawsuit on February 28, claiming baseless allegations of fraud, money laundering, and financing terrorism.
The contentious article, titled “Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts,” published in March 2023, reported on Tether and Bitfinex’s banking challenges and suggested their involvement in illegal activities.
Originally, the article included paragraphs mentioning Harborne and AML. However, an editor’s note added on February 21, 2024, a week before the lawsuit, stated the removal of the section about Harborne and AML to avoid implying their involvement in misleading banks.
In response, The Wall Street Journal spokesperson stated the disputed section had been removed after a dispute from Harborne’s counsel and an editor’s note added, in line with editorial standards. The spokesperson emphasized inaccuracies in the lawsuit and Dow Jones’ commitment to a robust legal defense.
Harborne clarified his 12% ownership in Bitfinex, attributing it to a reimbursement plan for customers affected by a 2016 hack. He asserted he has no management role in Bitfinex or Tether, only a minority shareholder.
Separately, last year, The Wall Street Journal published an article alleging Hamas militants raised over $130 million in cryptocurrency. This article, referenced by US lawmakers, claimed crypto funding for Hamas. However, blockchain analytics firm Elliptic refuted these claims, stating no evidence supported Hamas receiving significant crypto donations.
As the lawsuit progresses, it underscores the complexities and legal challenges in reporting on cryptocurrency activities, with significant implications for journalistic integrity and legal liability.