Ilya Lichtenstein, a hacker involved in a bitcoin theft and money laundering scheme, has been sentenced to five years in prison. Lichtenstein, along with his wife Heather Morgan, orchestrated the theft of 119,754 bitcoins from the Bitfinex exchange in 2016. They used sophisticated techniques to launder the stolen funds, including chain hopping and depositing the proceeds into crypto mixing services. The stolen bitcoins, initially valued at $70 million, had grown to over $4.5 billion by the time of their arrest. Lichtenstein and Morgan pleaded guilty to money laundering charges, with Lichtenstein receiving a five-year prison sentence and three years of supervised release. Morgan's sentencing is scheduled for November 18. The case highlights the growing concerns around cryptocurrency theft and the need for stricter regulations in the industry. Read more AI-generated news on: https://app.chaingpt.org/news
Hacker Sentenced for Bitcoin Theft and Money Laundering
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