Hacker Sentenced to 5 Years for Stealing 120,000 Bitcoins from Bitfinex – Metaverseplanet.net

In 2016, the Bitfinex cryptocurrency trade fell sufferer to one of many largest robberies in historical past, with roughly 120,000 Bitcoins stolen. The hacker behind this huge theft, Ilya “Dutch” Lichtenstein, was sentenced to five years in jail by a federal court docket in Washington.

A $10 Billion Heist

Lichtenstein and his spouse, Heather Morgan, have been arrested in 2022. In August 2023, the pair pleaded responsible to conspiracy to commit cash laundering. On the time of the theft, the stolen cryptocurrencies have been valued at $71 million, however with in the present day’s costs, their value has skyrocketed to over $10 billion.

Hundreds of thousands Laundered Utilizing Subtle Strategies

Based on the U.S. Division of Justice, Lichtenstein and Morgan laundered thousands and thousands of {dollars} utilizing “quite a few subtle cash laundering methods.” These included:

Utilizing faux identities

Changing Bitcoins into different cryptocurrencies

Transferring funds via the darknet

Buying gold to obscure the path

Regardless of the gravity of the crime, Lichtenstein’s 5-year sentence is considerably decrease than the 20-year most sentence sometimes imposed for such offenses in america.

Heather Morgan Awaits Sentencing

Morgan is about to seem earlier than a choose on November 18, the place she is predicted to obtain an 18-month jail sentence.

This case highlights the growing sophistication of cybercriminals and the continuing challenges in securing the burgeoning cryptocurrency trade.

You Could Additionally Like

Copy URL
URL Copied