The Digest contains the following:

• Department of Justice seizes $3.6Billion from Bitfinex Hack, Bitfinex jumps 60%

• enters metaverse with ‘Shiba Lands,’ LEASH jumps 45%.

• Russia sets to regulate cryptocurrency, Ukraine donates to NGOs in record numbers

• OpenSea delists CryptoPunks v1, Sotheby’s to auction 104 CryptoPunks.

Department of Justice Seizes $3.6 billion Stolen from Bitfinex Hack. Bitfinex Surges 60 Percent

Bitfinex experienced one of its most severe crypto-exchange hacks. In August 2016, 119.754 Bitcoin were taken, which is approximately $5.2 million at current prices. A significant amount of the money was recovered by the U.S. Department of Justice on February 8, 2016.

According to the DoJ, Ilya Lichtenstein was arrested along with Heather Morgan. They conspired together to launder money stolen from Bitfinex. Additionally, more than 94,000 Bitcoins were seized by the DoJ, which is worth $3.6 Billion.

Following the announcement, the Hong Kong-based crypto exchange announced that it would work “with the DOJ and follow the appropriate legal processes to establish our rights to a return of the stolen bitcoin.”

Bitfinex has announced that the Unus Sed Leo(LEO) token, which was initially available for trade at $4.87, has surged more than 60% in value since then. LEO was initially available for trading at $4.87. However, it has now risen to an all-time high $8.04.

Unus Sed Leo (LEO) price chart, 48 hours Source: Tradingview

Flipsider:

• Bitfinex pledged to use a minimum of 80% of recovered funds to purchase and redeem outstanding LEO tokens in the 18-month period following the recovery.

What You Need to Care About

The Bitfinex hackers can now expect their funds to be recovered after six years.

Shiba Inu Enters Metaverse with ‘Shiba Lands,’ LEASH Jumps 45%

Two weeks after revealing its metaverse project dubbed ‘The Shiberse,’ the developers of popular meme coin Shiba Inu have announced that its community can now obtain and own virtual pieces of land in the Shiba Inu Metaverse.

In its expansion of the ecosystem, Shiba Inu announced that they would introduce land, queue systems, and other features to its virtual reality. As per the announcement, Shiba Inu Army has the ability to buy land and get front row seats in the Dog-themed metaverse.

In a surprise announcement, the Shiba Inu Team said that $LEASH holders would be the first ones to have access to the Shiba Inu metaverselands. LEASH’s price jumped by over 45% after the proclamation.

Over the last 24 hours, Doge killer (LEASH) has gained in value by 46%, making it one of the day’s best performers. LEASH has now traded at $1,766.1 and is worth $190 million.

This is the 24 hour price chart of Doge Killer (LEASH). Source: Tradingview

Flipsider:

• Though it remains one of the Shiba army’s Most anticipated event, listing for SHIB on Robinhood (NASDAQ) remains elusive.

What You Need to Care About

ShibaInu hopes to transform the face of meme coins with its metaverse, and other improvements in 2022.

Russia to Regulate Crypto and Bitcoin. Donations to Ukraine’s NGOs Soar

Russia has proposed a regulation framework to regulate the crypto industry, after months of uncertainty since the Russian proposal, which included a ban on trading, transactions and mining, was submitted.

According to a statement released on Tuesday, the Russian government and the country’s central bank have agreed to draft legislation and amend existing laws recognizing crypto as a form of currency.

Early reports suggest that the framework could integrate digital currencies into the nation’s financial systems. In addition to this, Russia is aiming to “minimize the threat to the financial system’s stability and reduce the use of cryptocurrencies for illegal purposes.”

Flipsider:

• Responding to the rising tensions in Ukraine, volunteer groups have been crowdfunding bitcoin to support the country’s military.
• Volunteer groups and NGOs received over 550,000 dollars in 2021. They have also already accumulated $6,000 by 2022 as Russian troops occupy Ukraine’s borders.