Wednesday, July 30, 2025
No Result
View All Result
Coin Digest Daily
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
No Result
View All Result
Coin Digest Daily
No Result
View All Result

US prosecutors urge judge to hand Bitfinex hack mastermind five-year sentence – CoinJournal

20 October 2024
in Scam Alert
Reading Time: 2 mins read
0 0
A A
0
Home Scam Alert
Share on FacebookShare on Twitter


The Bitfinex crypto hack resulted within the theft of 120,000 Bitcoin
Ilya Lichtenstein used a collection of refined strategies to cover the stolen funds between 2016 and 2022
He informed his spouse and co-conspirator concerning the hack in 2020 who then helped him to cover the stolen property

US prosecutors have informed a decide that the mastermind behind the Bitfinex alternate hack ought to obtain 5 years in jail.

Ilya Lichtenstein, who pleaded responsible final yr after stealing 120,000 Bitcoin, was arrested in 2022. His spouse and co-conspirator Heather Morgan was additionally taken into custody, in connection to the 2016 Bitfinex crypto hack. Throughout their arrest, police seized Bitcoin price round $71 million on the time of the hack.

In line with Bloomberg, a court docket submitting was submitted to the US District Courtroom of Columbia, US prosecutors say Lichtenstein ought to obtain an extended sentence than Morgan, also referred to as rapper Razzlekhan.

Final week, federal prosecutors advisable that Morgan obtain an 18-month jail sentence given her “substantial help” within the case and the truth that she didn’t know her husband had hacked into Bitfinex.

Prosecutors argued {that a} stronger sentence for Lichtenstein would assist deter younger cybercriminals from trying the identical factor. In line with them, this on-line exercise is “normalized in a means that trivializes the affect on the victims.”

By giving a harder sentence, prosecutors consider it should “assist to interrupt this cycle.”

Sole duty for the hack

Whereas it was initially believed that each of them had been concerned within the alternate’s hack, Lichtenstein was recognized as the first individual accountable.

It was solely in 2020 that Morgan discovered about what her husband had finished and admitted to serving to him disguise the stolen crypto. Following the hack, Lichtenstein transferred round 120,000 Bitcoin right into a self-custody pockets underneath his management.

Over the subsequent few years, he withdrew 25,000 Bitcoin, laundering the stolen funds by darknet markets, non-compliant digital foreign money exchanges, and mixers and tumblers, together with Bitcoin Fog, Helix, and ChipMixer.

With Morgan’s assist, the pair used the stolen funds to purchase nonfungible tokens (NFTs), gold, and Walmart reward playing cards.

Prosecutors haven’t pushed the decide to provide Lichtenstein the utmost sentence attributable to his help in different legal instances. For example, in February, Lichtenstein testified as a authorities witness in a money-laundering trial in opposition to Bitcoin Fog.

The pair are scheduled to be sentenced in November.

Share this articleCategoriesTags



Source link

Tags: BitfinexCoinJournalFiveYearhackHandJudgeMastermindProsecutorsSentenceUrge
Previous Post

Dogecoin Investors eye Rexas Finance (RXS) as strong alternative for 2025 bull run as DOGE underperforms – CoinJournal

Next Post

Crypto Industry May Benefit from Kamala Harris Being ‘More Supportive’ Than Joe Biden – Details | Bitcoinist.com

Related Posts

Grok refuses to pick winner for Crypto Rover competition citing ZachXBT pump and dump evidence
Scam Alert

Grok refuses to pick winner for Crypto Rover competition citing ZachXBT pump and dump evidence

22 July 2025
XRP trading volume soars as new ATH attracts deepfake scam targeting investors
Scam Alert

XRP trading volume soars as new ATH attracts deepfake scam targeting investors

18 July 2025
FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal
Scam Alert

FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

19 July 2025
Chinese industry group warns Web3 and DeFi high-return deals hide classic Ponzi engines
Scam Alert

Chinese industry group warns Web3 and DeFi high-return deals hide classic Ponzi engines

11 July 2025
Scam targets dormant Bitcoin wallets with fake legal notice
Scam Alert

Scam targets dormant Bitcoin wallets with fake legal notice

9 July 2025
North Korean IT workers earned $17M this year with some funds coming from Circle accounts
Scam Alert

North Korean IT workers earned $17M this year with some funds coming from Circle accounts

3 July 2025
Next Post
Crypto Industry May Benefit from Kamala Harris Being ‘More Supportive’ Than Joe Biden – Details | Bitcoinist.com

Crypto Industry May Benefit from Kamala Harris Being 'More Supportive' Than Joe Biden - Details | Bitcoinist.com

Tata Elxsi Launches Coalesce: An Innovative XR Platform for Digital Twins and Remote 3D Collaboration powered by the Snapdragon Spaces XR Platform

Tata Elxsi Launches Coalesce: An Innovative XR Platform for Digital Twins and Remote 3D Collaboration powered by the Snapdragon Spaces XR Platform

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
BNB Price Gears Up for Upside Break — Will Bulls Deliver?

BNB Price Gears Up for Upside Break — Will Bulls Deliver?

8 July 2025
Something Big Is Coming For XRP On July 9—Why It Matters

Something Big Is Coming For XRP On July 9—Why It Matters

8 July 2025
XRP could rally higher on steady capital inflow; check forecast

XRP could rally higher on steady capital inflow; check forecast

8 July 2025
10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

24 May 2025
Ethereum Price Drops After Bullish Attempt — Support Area Under Pressure

Ethereum Price Drops After Bullish Attempt — Support Area Under Pressure

2 July 2025
Live Best Meme Coins Updates Today: TOKEN6900 Presale Begins with Promises of 1000x, SEC Approves First-Ever ETF with Bitcoin, Ethereum, XRP, and More…

Live Best Meme Coins Updates Today: TOKEN6900 Presale Begins with Promises of 1000x, SEC Approves First-Ever ETF with Bitcoin, Ethereum, XRP, and More…

2 July 2025
Ethereum Leads Futures Rebound As Top Altcoin OI Nears $45B

Ethereum Leads Futures Rebound As Top Altcoin OI Nears $45B

30 July 2025
‘Altseason for TradFi’ Underway As Investors Look To Rotate Profits Into Riskier Bets: Bitwise CIO Matt Hougan – The Daily Hodl

‘Altseason for TradFi’ Underway As Investors Look To Rotate Profits Into Riskier Bets: Bitwise CIO Matt Hougan – The Daily Hodl

30 July 2025
Market Set to Surge as PayPal Introduces ‘Pay with Crypto’ Feature for 100+ Tokens

Market Set to Surge as PayPal Introduces ‘Pay with Crypto’ Feature for 100+ Tokens

30 July 2025
Uprise Teams Up with HoneyBook to Bring Tax Planning to Small Business Owners – Finovate

Uprise Teams Up with HoneyBook to Bring Tax Planning to Small Business Owners – Finovate

30 July 2025
Strategy Purchases 21,021 Bitcoin After $2.52 Billion IPO

Strategy Purchases 21,021 Bitcoin After $2.52 Billion IPO

30 July 2025
Redstone Debuts Oracle for Instant DeFi Liquidations and MEV Capture    – Defi Bitcoin News

Redstone Debuts Oracle for Instant DeFi Liquidations and MEV Capture    – Defi Bitcoin News

29 July 2025
Facebook Twitter Instagram Youtube RSS
Coin Digest Daily

Stay ahead in the world of cryptocurrencies with Coin Digest Daily. Your daily dose of insightful news, market trends, and expert analyses. Empowering you to make informed decisions in the ever-evolving blockchain space.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITEMAP

  • About us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$117,947.00-0.32%
  • ethereumEthereum(ETH)$3,812.600.89%
  • rippleXRP(XRP)$3.140.12%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$806.48-1.87%
  • solanaSolana(SOL)$181.52-0.95%
  • usd-coinUSDC(USDC)$1.000.00%
  • staked-etherLido Staked Ether(STETH)$3,810.540.94%
  • dogecoinDogecoin(DOGE)$0.224274-0.36%
  • tronTRON(TRX)$0.3376674.19%