Ilya Lichtenstein, the person liable for the infamous 2016 Bitfinex
$362.48M
cryptocurrency trade hack, has been handed a five-year jail time period.
This sentencing, delivered by Choose Colleen Kollar-Kotelly in Washington, DC, occurred on November 14. Lichtenstein had beforehand admitted guilt to fees of conspiring to launder cash throughout an August 2023 plea deal.
Prosecutors advisable the lighter punishment, citing his lack of a previous felony document, his cooperative efforts in helping different investigations, and the restricted success of his laundering operation. Of the 119,754 Bitcoin
$90,755.84
stolen—now valued at greater than $10.4 billion—solely 25,111 BTC was efficiently laundered.
Do you know?
Need to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer movies each week!
What’s Impermanent Loss in Crypto? (Defined With Animations)
Lichtenstein’s spouse, Heather Morgan, identified in some circles by her rapper persona “Razzlekhan,” is scheduled for sentencing on November 18. She confessed to aiding her husband laundering the stolen cryptocurrency after their arrests in February 2022.
Her fees embody conspiracy to commit cash laundering and defrauding the US, which carry a possible sentence of as much as 10 years. Nevertheless, prosecutors have advisable a relatively lenient time period of 18 months.
Prosecutors described Morgan’s function as minor in comparison with Lichtenstein’s. Initially unaware of the origin of the Bitcoin stash, she discovered of its connection to the Bitfinex hack three years after the theft.
In different information, a worldwide crypto heist has uncovered $73 million laundered by means of a community of faux corporations. How was this scheme uncovered? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Struggle II period.With near a decade of expertise within the FinTech business, Aaron understands the entire largest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to particular person for all the pieces and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the area as we all know it, and make it extra approachable to finish inexperienced persons.Aaron has been quoted by a number of established retailers, and is a broadcast writer himself. Even throughout his free time, he enjoys researching the market tendencies, and searching for the subsequent supernova.
