Cryptocurrency exchange Bitfinex stated that the recent allegations by the New York Attorney General (NYAG) about the exchange’s insolvency are “filled with inaccuracies and false assertions.” The exchange made the claim in a letter seen by Cointelegraph, emailed to Bitfinex users today, April 27.

The letter was signed by the exchange’s CEO, Jean Louis van der Velde. The letter specifies that the materials brought against the exchange do not constitute a civil or criminal complaint and declares:

“In particular, we want to assure you that the allegation that we have ‘lost’ $850 million is categorically false.”

The exchange further explains that those funds are, in fact, seized and safeguarded in several jurisdictions, including Poland, Portugal, the United Kingdom and the United States. Furthermore, the company also claims that it is actively working to cause those funds to be released and is confident that it can make convincing arguments to this end. Furthermore, Bifinex noted:

“And rest assured that we will vigorously challenge the false assertions made by the New York Attorney General’s office in their filing.”

Lasly, Velde claims that the exchange is working closely with regulators worldwide, and encourages users to address remaining questions to him or other senior staff members.

As Cointelegraph reported earlier today, two Bitfinex shareholders said that they are not distressed by the NYAG’s allegations against the exchange. The firm’s chief financial officer reportedly told another shareholder that “need[s] a few weeks and the funds will be unfrozen.”

Blockchain data shows that earlier this week, the exchange had also withdrawn funds worth almost $90 million from its cold wallet.