CyberSecurity updates
2024-12-26 21:14:51 Pacfic

US Gov’t Sentences Bitfinex Hacker for Laundering Billions - 11d
US Gov’t Sentences Bitfinex Hacker for Laundering Billions

Ilya Lichtenstein, the individual behind the 2016 Bitfinex cryptocurrency exchange hack, was sentenced to five years in prison for money laundering by the US Department of Justice. Lichtenstein and his wife, Heather Morgan, stole over 119,000 Bitcoin, worth approximately $10.5 billion at the time of the theft. The stolen cryptocurrency was laundered through a complex network of transactions, using various techniques to obfuscate the origins of the funds. The investigation by the DOJ involved tracing the movement of the stolen Bitcoin through various exchanges and wallets, ultimately recovering a substantial portion of the stolen assets. This case highlights the evolving tactics of cybercriminals and the need for improved security measures within the cryptocurrency industry.