Bitfinex hacker, Ilya Lichtenstein, has been sentenced to five years in prison for his involvement in one of the largest cryptocurrency thefts in history. Lichtenstein and his wife, Heather Morgan, were arrested in February 2022 after authorities linked them to the 2016 crypto hack of Bitfinex, resulting in the theft of 119,754 Bitcoin.
Judge Colleen Kollar-Kotelly of the United States District Court for the District of Columbia issued the sentence following Lichtenstein’s guilty plea to conspiracy to commit money laundering.
Bitfinex Hacker Jailed for Multi-Billion Bitcoin Theft
In a recent ruling, Judge Kollar-Kotelly sentenced Bitfinex hacker Ilya Lichtenstein to five years in prison. This sentencing follows Lichtenstein’s admission to hacking the Bitfinex cryptocurrency exchange in 2016, where he facilitated the unauthorized transfer of 119,754 Bitcoin, initially valued at around $71 million.
Since the hack, Bitcoin’s value has risen, elevating the stolen assets’ worth to billions. Lichtenstein, a self-described “computer expert,” used advanced hacking methods to infiltrate Bitfinex’s systems and conduct more than 2,000 unauthorized transfers.
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Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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