A computer expert in the U.S. was sentenced to 5 years in prison for stealing Bitcoins worth billions of dollars and laundering part of the stolen money over several years with the help of his wife.
The Associated Press cited the prosecution's report stating that the defendant Lichtenshtein, a Russia-born U.S. citizen, engaged in corporate and cryptocurrency investment, hacked into the U.S. Bitcoin exchange system in August 2016, stealing approximately 120,000 Bitcoins, which were valued at about $71 million at the time and now exceed $7.6 billion, a truly rare amount.
After stealing these Bitcoins, Lichtenshtein, with the help of his wife Morgan, gradually 'laundered' the stolen funds by transferring and trading between different accounts and platforms and exchanging cash abroad to bring back to the U.S. The couple had 'laundered' about 21% of the stolen Bitcoins by the time they were arrested in New York City in February 2022, estimated to be worth over $1 billion at the time. The remaining stolen funds were confiscated. The two had already admitted to conspiracy to commit money laundering last year.
U.S. District Judge Colleen Collar-Kotelly ruled that Lichtenshtein's theft and money laundering activities were 'meticulously planned' rather than impulsive actions, thus supporting the prosecution's request for a 5-year prison sentence. Morgan was considered an accomplice, and the prosecution requested an 18-month prison sentence for her, with the court to issue a separate ruling.
A lawyer for the Bitcoin exchange stated that the stolen funds accounted for about 36% of the company's assets at the time, 'devastating' the company's financial situation and reputation. The defense lawyer for the defendant claimed that with Lichtenshtein's assistance, more than 96% of the stolen funds had been recovered. According to Xinhua News Agency.
Source: Xihai Metropolitan Daily
