Bitfinex files discovery in "Yo bro, where did our $800 million go?" action and it is every bit as interesting as you'd expect it to

Here's their CFO describing their agreement (which we know from other litigation was never contractualized because, presumably because money launderers hate paper trails):

Bitfinex's CFO was shocked, shocked to learn that the money launderer they engaged to provide money laundering services while I-swear-to-God-this-is-an-actual-quote "we learned to bank like criminals" may have from time to time lied to banks.

"Institutional constraints" means, here, "We were attempting to avoid velocity checks placed by our banking partners to detect fraud and money laundering, which would have detected our fraud and money laundering."

Money at the speed of code, yadda yadda yadda, the Bitcoin economy is surprisingly blasé when several hundred million dollars is in an interstitial state for months.

In a situation never before encountered by a financial institution: the check was not, in fact, in the mail.