Man Gets 5 Years for Stealing $120M in Bitcoin from Bitfinex! 💸

News & Articles
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Summary:

  1. Bitfinex Hack
    In 2016, Ilya Lichtenstein stole 120,000 Bitcoin from the Bitfinex exchange, one of the largest cryptocurrency thefts in history.

  2. Money Laundering Scheme
    Lichtenstein and his wife, Heather Rhiannon Morgan (also known as Razzlekhan), used complex laundering techniques to hide and liquidate the stolen funds, successfully laundering 21% of the stolen Bitcoin.

  3. Sentencing
    Lichtenstein was sentenced to five years in prison for his role in the hack and subsequent money laundering efforts.

  4. Bitfinex’s Impact
    The hack severely impacted Bitfinex, with the stolen funds accounting for 36% of the company’s assets at the time.

  5. Recovery of Funds
    Thanks to Lichtenstein’s cooperation, 96% of the stolen Bitcoin has been recovered, valued at over $6 billion today.

Read more at: AP News