A Manhattan couple – together with distinguished tech CEO and rapper Heather Morgan, and her husband Russian-American twin citizen Ilya Lichtenstein – had been arrested and the most important quantity of cryptocurrency property of all time seized, price $4.5 billion.
The crypto funds included 119,754 Bitcoin stolen within the 2016 Bitfinex change hacking which the US Division of Justice tracked to Lichtenstein’s crypto pockets. Learn the DOJ assertion.
Unus Sed LEO (LEO), the native utility token of Bitfinex which features in an identical option to Binance coin (BNB) then pumped 50% when the information hit Twitter.
What’s LEO token?
Holders of ERC20 token LEO obtain a 15% discount in taker charges on Bitfinex change, and decrease charges when lending, depositing and withdrawing. The value of LEO is at the moment $7, having spiked from $3.50 final week to a excessive of $8 at this time – some merchants seem to have caught wind of the DOJ announcement prematurely and purchased LEO, making over 100% positive factors.
LEO is ranked #25 by marketcap on Coinmarketcap.com, in between Tron (TRX) and Algorand (ALGO). FTX token (FTT) the native token of FTX change, is closed behind at #28.
Binance Coin (BNB) is ranked #4 behind solely Bitcoin, Ethereum and Tether (USDT).
Holding native cash of exchanges has been a superb funding technique over the previous years – comparable in a way to ‘betting on the home’ by proudly owning shares in a on line casino. As crypto turns into extra standard throughout bull runs, extra customers signal as much as exchanges, and purchase native cash with a purpose to obtain buying and selling payment reductions.
Buyers should purchase LEO on Bitfinex and FTX.
Why is LEO Pumping?
Bitfinex wrote within the Unus Sed LEO whitepaper that they’ll use 80% of the stolen Bitcoin when recovered to buy and burn LEO, inside 18 months of the date it receives the funds. Clients who misplaced funds within the 2016 hacking had been already compensated on the time.
Which means when the DOJ returns the recovered Bitcoin – price $3.6 billion on the time, and now price $4.5 billion – the worth of LEO ought to proceed its bullish uptrend.
The restoration additionally will increase investor confidence in Bitfinex change because it was capable of work with federal legislation enforcement to hint the wallets containing the stolen funds.
LEO / USD additionally broke out of an roughly 1.5 yr lengthy accumulation vary from June 2019 to March 2021 to set a brand new all-time excessive, then retested flipped that degree to assist in mid 2021, persevering with to steadily development upwards into 2022.
Your capital is in danger.