Couple Sentenced for Laundering $4B in Stolen Cryptocurrency
A New York couple, Heather Morgan and Ilya Lichtenstein, have been sentenced for their role in laundering over $4 billion worth of cryptocurrency stolen from Bitfinex in 2016. The case has sparked significant discussions about exchange security and anti-hacking measures in the cryptocurrency world.
In 2016, hackers stole 119,754 Bitcoins from Bitfinex, valued at $72 million at the time. Prosecutors allege that Morgan and Lichtenstein, arrested in 2022, laundered these funds using advanced methods. They employed exchanges with no KYC, dark web markets, and cryptocurrency mixers to hide the origin of the funds.
The couple pleaded guilty in August 2023. They admitted to using a portion of the stolen funds to purchase gold coins, which Morgan buried in a secret location. Over 94,000 Bitcoins, worth $3.6 billion at the time of seizure, were confiscated from the couple.
Prosecutors initially sought a sentence of 10 years for Morgan and up to 20 years for Lichtenstein. However, due to Morgan's cooperation with the investigation, prosecutors requested a reduced sentence of 18 months. The court has yet to announce the final sentence.
The couple's actions have highlighted the need for robust security measures in the cryptocurrency industry. Prosecutors aim to confiscate assets worth $7.6 billion to compensate Bitfinex. The final sentences for Morgan and Lichtenstein are pending.
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