Ilya Lichtenstein, a 35-year-old programmer, has been sentenced to five years in prison for his part in laundering Bitcoin stolen from the Bitfinex crypto exchange. In 2016, nearly 120,000 BTC were stolen, worth $71.8 million at the time, but now valued at over $4.5 billion. Lichtenstein infiltrated Bitfinex’s network, transferring 119,754 BTC to a crypto wallet he controlled.
He then tried to cover his tracks by removing access credentials and log files from the network. Lichtenstein’s wife, Heather Morgan, was also involved in laundering the stolen funds. The couple used various techniques to disguise the origins of the stolen cryptocurrency, including using fake identities, automated transaction software, and converting the Bitcoin into other cryptocurrencies.
They also deposited portions of the stolen funds into darknet markets and multiple crypto exchanges, and used cryptocurrency mixing services to anonymize transactions. Both Lichtenstein and Morgan pleaded guilty to a single count of conspiracy to commit money laundering and will serve three years of supervised release after their prison terms.
Approximately $3.6 billion of the stolen Bitcoin has been traced and recovered.
Source
<p>The post Bitfinex Hacker Lichtenstein Sentenced to 5 Years in Prison first appeared on CoinBuzzFeed.</p>
