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Home News Bitfinex $1 Billion IEO Details Leaked – Plans To Use Money...

Bitfinex $1 Billion IEO Details Leaked – Plans To Use Money To Cover Frozen Funds


In yet another strange twist to the Bitfinex saga last week, Bitcoin investor Dong Zhao leaked an official Bitfinex document laying out hard proof of their upcoming token sale and LEO token. 

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Dovey Wan kicked off with a rumour last week on Twitter.

Bitfinex, based in the British Virgin Islands is currently being investigated by regulators and having problems due to its association with Tether. As reported in Blockchain News last week, NY Attorney General Letitia James, stated that iFinex, the holding company of both Tether and Bitfinex, may be participating in “ongoing activities that may have defrauded” cryptocurrency investors. A 23-page document signed by Brian Whitehurst, the Assistant Attorney General, rolled out more incriminating accusations. 

According to investigators,  Bitfinex currently is missing about $850 million thanks to their relationship with a dodgy Panama-based payment processing company called Crypto Capital who allegedly have funds frozen by governmental regulators in Poland, Portugal, and the United States.

It appears that Bitfinex is looking to hedge against not recovering the funds from Crypto Capital by doing a massive token sale and joining the Huobi and Binance tokenized exchange club.

The exchange has not made any official statement so far but apparently, according to Coindesk, On May 4, Renrenbit, a crypto-lending application founded by Bitfinex shareholder Dong Zhao, started taking in pre-orders from users who want to participate in the public phase of the exchange’s upcoming $1 billion token sale. 


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