In 2019, cryptocurrency exchange Bitfinex was hacked, and almost 120,000 Bitcoin s (CRYPTO: BTC) were stolen. Most of those have just been recovered, according to today's press release from the U.S. Department of Justice. Valued at roughly $3.6 billion, these Bitcoins represent the largest seizure of funds in history.
And shockingly, it's not Bitcoin that's surging today but rather Unus Sed Leo (CRYPTO: LEO) . As of 3:30 p.m. ET, Leo Crypto tokens were up a whopping 46% over the past 24 hours. And there's a good explanation why.
Leo is a utility token created for the Bitfinex exchange. When Bitfinex was hacked, it did what it could to financially help those who were negatively impacted -- an expensive decision. By issuing up to one billion Leo tokens, the company was able to raise money to help with its suddenly stretched financial situation.
For further details see:
$3.6 Billion Crypto Heist Thwarted, Sending This Obscure Cryptocurrency Skyrocketing