zlacker

After this hack, Bitfinex account holders took a haircut (30% or so) and were given tokens representing the remainder of their dollar-denominated account balances. Those tokens were paid in full in 2017ish.

Later, the UK, Portugal, and Poland seized $1B or so of Bitfinex customer funds due to the funds being delivered by Crypto Capital Corp who was found to be engaged in money laundering. Bitfinex issued LEO tokens to make up for that asset seizure, and have a clause that if the 2016 stolen bitcoins were recovered, they'd be used to retire the LEO tokens. That's why LEO has greatly increased in value recently. https://cryptowat.ch/charts/BITFINEX:LEO-USD?period=1d

>>evdubs+(OP)
It's so odd that the story breaks today but LEO started jumping 8 days ago. No insider trading there, I am certain!

>>johnma+wx
IIRC the coins moved about a week ago. Wouldn't surprise me if there was some speculation that they had been seized leading to some speculation.