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    Home»Markets»Bitfinex $10B Hack: ‘Razzlekhan’ Sentenced To 18 Months
    Bitfinex B Hack: ‘Razzlekhan’ Sentenced To 18 Months
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    Bitfinex $10B Hack: ‘Razzlekhan’ Sentenced To 18 Months

    By Crypto EditorNovember 20, 2024No Comments3 Mins Read
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    Within the newest growth of the Bitfinex hack saga, Heather Morgan, often known as “Razzlekhan,” was sentenced to 18 months for laundering the 120,000 Bitcoin stolen in 2016. The Court docket determination follows her husband’s 5-year sentence for cash laundering and conspiracy to steal.

    Razzlekhan: From Rapper To ‘Bitcoin Bonnie’

    Heather Morgan, spouse of the mastermind behind the 2016 Bitfinex huge hack, was sentenced on Monday by a federal decide in Washington for serving to her husband, Ilya Lichtenstein, to launder almost 120,000 Bitcoin (BTC).

    Morgan can be recognized for her rap movies underneath her stage identify “Razzlekhan.” The self-titled “Crocodile of Wall Road” has amassed tons of of 1000’s of views in her movies, which turned viral after the couple’s arrest in 2022.

    In keeping with the US Division of Justice (DOJ), Morgan’s husband used superior hacking methods and instruments to entry Bitfinex’s community. After breaching the crypto trade, Lichtenstein transferred 119,574 Bitcoin to one in every of his crypto wallets by greater than 2,000 transactions.

    The stolen funds had been valued at round $71 million in 2016. Nonetheless, its worth has considerably elevated all through the years, now price almost $11 billion after Bitcoin surged above $90,000 within the final seven days.

    Regardless of not being concerned within the hack, Morgan assisted her husband in laundering the stolen Bitcoin, utilizing “quite a few subtle laundering methods” to disguise the funds.

    In keeping with the prosecutors, Lichtenstein said that Morgan didn’t discover out concerning the hack till 2019 however solicited her assist to cover the funds “with out explaining precisely what he was doing.” The couple reportedly managed to launder 21% of the stolen funds.

    The “Bitcoin Bonnie and Clyde” used faux identities to create on-line accounts, deposited the stolen Bitcoin in a number of darknet markets and crypto exchanges to withdraw the funds, transformed Bitcoin to different cryptocurrencies, and deposited a part of the funds into crypto mixers.

    Bitfinex Hack Saga Ends With Decreased Jail Sentence

    In August 2023, Morgan and Lichtenstein pleaded responsible to conspiracy to commit cash laundering. On November 18, District Court docket Choose Colleen Kollar-Kotelly sentenced Morgan to 18 months, 4 days after her husband’s sentence.

    Prosecutors argued that she was “definitely a prepared participant and bears full accountability for her actions.” Nonetheless, they famous that Morgan was “a lower-level participant,” which resulted in her diminished sentence.

    Regardless of cooperating with authorities and showing “genuinely remorseful and unlikely to be a repeat offender,” the Choose thought-about that Morgan needed to face jail to serve for instance and assist dissuade others from related crimes.

    In the meantime, Lichtenstein obtained a 5-year sentence after cooperating with authorities in different crypto hacks. Throughout his listening to, the mastermind behind the Bitfinex hack reportedly expressed regret for utilizing his skills on prison actions “as a substitute of a constructive contribution to society.”

    Following the information of her sentence, Morgan launched an announcement on X. Within the video, she apologized to her followers for disappearing and defined that she spent the final three years “battling a Fed case” and was “listening to her attorneys.”

    Finally, she introduced that she would share her story and ideas now that the case is over. As reported by Bitcoinist, Amazon greenlighted a movie titled “Razzlekhan” concerning the Bitfinex hack earlier this 12 months and can collaborate with MGM Studios on the manufacturing.

    Bitfinex B Hack: ‘Razzlekhan’ Sentenced To 18 Months

    Bitcoin is buying and selling at $92,344 within the weekly chart. Supply: BTCUSDT on TradingView

    Featured Picture from Unsplash.com, Chart from TradingView.com



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