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Ilya Lichtenstein’s responsible plea in a Washington, D.C. federal courtroom shocked the cryptocurrency neighborhood. The fees stem from a plot to launder Bitcoin stolen from the 2016 Bitfinex hack. In line with CNBC, the stolen $70 million has grown to $4.5 billion.
Ilya Lichtenstein was charged with Cash laundering unrelated to the Bitfinex hack
The U.S. Division of Justice has charged Ilya Lichtenstein and his spouse, Heather Rhiannon Morgan, with cash laundering, unrelated to the hack. In February 2022, the DOJ seized over 94,000 of the 119,000 hacked BTC, their largest cryptocurrency seizure.
The 2016 Bitfinex hack stole 119,000 BTC from a serious cryptocurrency alternate. Lichtenstein’s confession revealed the hacker’s identification after years of thriller.
The couple’s arrest earlier this 12 months recovered $3.6 billion in Bitcoin. Lichtenstein traveled to Ukraine and Kazakhstan to launder digital belongings by means of Russian and Ukrainian intermediaries.
Lichtenstein and Morgan used an account to launder Bitfinex hack proceeds, in response to courtroom paperwork. Lichtenstein’s cooperation is anticipated to light up the hack and cash laundering community’s wider results, making this case a precedence for federal investigators.
Lichtenstein will stay in jail awaiting sentencing for cash laundering conspiracy. His cooperation with federal investigators raises hopes of fixing extra complicated case particulars. Morgan, who was launched on a $3 million bond, attended her husband’s plea listening to.
The listening to revealed Lichtenstein’s conversion of belongings into gold cash and Morgan’s alleged concealment. A charging doc filed final month revealed the couple’s complicated transactions to hide the stolen funds.
This high-profile case emphasizes the necessity for robust cryptocurrency safety. The Bitfinex hack highlights digital asset dangers and vulnerabilities. Whereas authorities proceed to crack down on unlawful actions, the incident requires improved crypto safety.
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