Ilya Lichtenstein has been sentenced to five years in prison for laundering nearly 120,000 Bitcoins stolen in the 2016 Bitfinex exchange hack.
Case Details
Ilya Lichtenstein received a five-year prison sentence for laundering funds from the 2016 Bitfinex hack. At the time, the stolen 119,754 Bitcoins were valued at about $71 million, but the value has since escalated to $10.5 billion. Lichtenstein utilized sophisticated hacking techniques and over 2,000 sham transactions to redirect the cryptocurrency to his wallet.
Lichtenstein's Promise to Assist
During the court hearing, Ilya Lichtenstein apologized and pledged to use his technical expertise to support cybersecurity. The government recommended a five-year term, noting his cooperation with law enforcement, which aided multiple investigations.
Heather Morgan's Future
Heather Morgan, known as a rapper under the name ‘Razzlekhan,’ is set for sentencing on November 18. Prosecutors have recommended an 18-month sentence for her role in laundering the stolen funds.
The case of Lichtenstein and Morgan has become one of the most high-profile in cryptocurrency history, attracting attention for the scale of the theft and their subsequent cooperation with authorities.
