BitfinexHack
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Breaking News: Crypto Hacker Sentenced for Laundering Billions in Bitcoin
A cybercriminal has been sentenced to five years in prison for orchestrating the theft and laundering of 120,000 Bitcoin, currently valued at over $11 billion, from the cryptocurrency exchange Bitfinex.
Ilya Lichtenstein, 35, was convicted for carrying out the 2016 cyberattack, one of the largest thefts in the crypto industry. Alongside his wife, Heather Morgan, Lichtenstein funneled the stolen funds through an intricate web of transactions designed to conceal their origins.
US District Judge Colleen Kollar-Kotelly labeled the crime as “calculated and deliberate,” stressing the importance of accountability for such actions. "This sentencing sends a clear message that cybercrimes have severe consequences," she stated.
Lichtenstein, who has been in custody since his arrest in February 2022, expressed deep regret for his actions. "I regret misusing my skills for criminal purposes. I want to take responsibility and use my expertise in the future to fight cybercrime," he told the court.
The stolen Bitcoin, valued at $71 million at the time of the breach, represented 36% of Bitfinex's assets, dealing a significant blow to the exchange’s reputation and finances. According to Bitfinex’s lawyer, Barry Berke, the company took extraordinary steps to absorb the losses and protect its customers from financial harm.
Prosecutors revealed that Lichtenstein employed some of the most advanced money-laundering techniques over five years to cover his tracks. His wife, Heather Morgan, a rapper and entrepreneur known by the alias "Razzlekhan," aided him in the process. Both admitted to charges of conspiracy to launder money during a court hearing in August 2023.
Morgan’s sentencing is expected on Monday. Lichtenstein has pleaded with the court to show leniency toward his wife, taking full blame for involving her in the crime.
This high-profile case highlights the importance of cybersecurity and international efforts to combat crypto-related crimes. Authorities have described it as a landmark victory in the fight against digital fraud.
Reported by Tech666.
#CryptoScandal
#BitcoinTheft
#WorldLibertyXChainlink
#BitfinexHack
Ilya Lichtenstein, 35, was convicted for carrying out the 2016 cyberattack, one of the largest thefts in the crypto industry. Alongside his wife, Heather Morgan, Lichtenstein funneled the stolen funds through an intricate web of transactions designed to conceal their origins.
US District Judge Colleen Kollar-Kotelly labeled the crime as “calculated and deliberate,” stressing the importance of accountability for such actions. "This sentencing sends a clear message that cybercrimes have severe consequences," she stated.
Lichtenstein, who has been in custody since his arrest in February 2022, expressed deep regret for his actions. "I regret misusing my skills for criminal purposes. I want to take responsibility and use my expertise in the future to fight cybercrime," he told the court.
The stolen Bitcoin, valued at $71 million at the time of the breach, represented 36% of Bitfinex's assets, dealing a significant blow to the exchange’s reputation and finances. According to Bitfinex’s lawyer, Barry Berke, the company took extraordinary steps to absorb the losses and protect its customers from financial harm.
Prosecutors revealed that Lichtenstein employed some of the most advanced money-laundering techniques over five years to cover his tracks. His wife, Heather Morgan, a rapper and entrepreneur known by the alias "Razzlekhan," aided him in the process. Both admitted to charges of conspiracy to launder money during a court hearing in August 2023.
Morgan’s sentencing is expected on Monday. Lichtenstein has pleaded with the court to show leniency toward his wife, taking full blame for involving her in the crime.
This high-profile case highlights the importance of cybersecurity and international efforts to combat crypto-related crimes. Authorities have described it as a landmark victory in the fight against digital fraud.
Reported by Tech666.
#CryptoScandal
#BitcoinTheft
#WorldLibertyXChainlink
#BitfinexHack
#CryptoNews Ilya Lichtenstein, the mastermind behind the colossal $6B Bitfinex hack, is facing a 5-year prison sentence. His wife, Heather Morgan, involved in laundering, might get 18 months. #BitfinexHack #Write2Earn #CryptoCrime