US authorities are advocating for a five-year jail time period for Ilya “Dutch” Lichtenstein, who confessed to stealing 120,000 Bitcoin
$67,281.36
from the Bitfinex
$195.57M
cryptocurrency alternate in 2016.
Though his responsible plea for conspiracy to commit cash laundering might warrant a 20-year sentence, prosecutors consider a decreased time period is justified as a consequence of his lack of prior legal exercise and help in probes.
Earlier, prosecutors advised an 18-month jail sentence for Heather “Razzlekhan” Morgan, Lichtenstein’s spouse and confederate, citing her cooperation within the investigation.
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Regardless of recommending a decreased time period general, prosecutors are asking for an extended sentence for Lichtenstein than for his spouse. They identified that he spent months planning the theft and was concerned in different crimes, together with stealing $200,000 from one other crypto alternate.
The 2 laundered round 25,111 Bitcoin out of the 120,000 stolen, value $71 million on the time. Initially, each had been suspected of solely laundering the stolen funds, however Lichtenstein later confessed to being the hacker.
The authorities are asking the courtroom to order Lichtenstein and Morgan to return the remaining cryptocurrency from his pockets to Bitfinex. This contains about 95,000 Bitcoin, 117,400 Bitcoin Money
$362.70
, 117,400 Bitcoin SV
$49.59
, and 118,100 Bitcoin Gold
$23.73
, now value over $6 billion.
Lichtenstein’s sentencing is ready for November 14, with Morgan’s to comply with on November 15.
This case reminds us of the rising risk of cybercrime and the necessity for robust penalties to deal with such severe offenses.
In different information, 4 crypto firms and 18 related people have just lately been charged with fraud and market manipulation.
