Court Sentences Bitfinex Hacker to 5 Years in Prison
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In 2016, Ilya Lichtenstein hacked Bitfinex and stole nearly 120,000 Bitcoin, which was worth $70 million at the time. He and his wife then used a money laundering scheme to hide the stolen crypto.
On Thursday, Lichtenstein was sentenced to five years in prison for this crime, after initiating over 2,000 unauthorized transactions to siphon off the cryptocurrency.
Due to Bitcoin’s increase in value, the stolen crypto is now worth $10.5 billion. Lichtenstein expressed remorse for his actions and stated that he takes full responsibility for them.
Judge Colleen Kollar-Kotelly in the US District Court in Washington, D.C. sentenced him to five years in prison and three years of supervised release, as requested by prosecutors.
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