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    Home»Crypto News»Notorious Crypto Hacker Behind Almost $11,000,000,000 Bitfinex Exploit Sentenced to 5 Years in Jail – The Each day Hodl
    Notorious Crypto Hacker Behind Almost ,000,000,000 Bitfinex Exploit Sentenced to 5 Years in Jail – The Each day Hodl
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    Notorious Crypto Hacker Behind Almost $11,000,000,000 Bitfinex Exploit Sentenced to 5 Years in Jail – The Each day Hodl

    By Crypto EditorNovember 17, 2024No Comments3 Mins Read
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    The infamous hacker behind the huge $10.934 billion exploit of crypto change Bitfinex is being sentenced to 5 years in jail.

    In response to a brand new press launch by the U.S. Division of Justice (DOJ), Ilya Lichtenstein – who hacked Bitfinex in 2016 and fraudulently despatched 119,754 Bitcoin (BTC) to a pockets underneath his management – has been sentenced to 5 years for his function within the scheme.

    Courtroom paperwork reveal that after the exploit, Lichtenstein took measures to cowl his tracks, comparable to deleting key Bitfinex information that would have helped legislation enforcement determine him. Moreover, he requested his spouse to assist him launder the stolen cash.

    Lichtenstein and his spouse, Heather Morgan, utilized refined money-washing strategies – together with depositing and withdrawing funds into and out of darknet and cryptocurrency change, changing the BTC to different types of digital property and utilizing crypto mixing companies – to obfuscate the funds, in line with the DOJ.

    Lichtenstein and his spouse each pleaded responsible to 1 depend of conspiracy to commit cash laundering on August third, 2023. Whereas Morgan is slated to be sentenced on November 18th, Liechtenstein will serve his time period plus three years of supervised launch.

    Earlier this month, in her sentencing memo, Morgan mentioned she was in “full shock” when her husband instructed her concerning the hack 4 years after the very fact. In response to Morgan, she felt complicit and helped him cowl up his tracks as a result of she had accepted stolen crypto from him earlier than.

    “In 2020, I discovered that my husband Ilya Lichtenstein dedicated a critical crime in 2016. When he instructed me what he had achieved, I used to be in full shock. I made the poor determination to get entangled in Ilya’s crime. Our relationship was removed from excellent, however I deeply love and care about my husband, and the reality is, I didn’t need him to go to jail as a result of we have been planning to begin a household collectively.”

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    Notorious Crypto Hacker Behind Almost $11,000,000,000 Bitfinex Exploit Sentenced to 5 Years in Jail – The Each day Hodl

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