The post Bitfinex Bitcoin Hacker Receives Five-Year Prison Sentence! appeared first on Coinpedia Fintech News
Ilya Lichtenstein, a Bitcoin hacker was sentenced by the Justice Department on Thursday for his involvement in a money laundering case related to the theft of $3.6 billion worth of cryptocurrency from the Bitfinex cryptocurrency exchange. Ilya Lichtenstein, along with his wife, and Heather Morgan pleaded guilty last year in New York to 1 count of conspiracy to commit money laundering over the 2016 theft of nearly 120K Bitcoins from the exchange. With the latest hearing, Ilya has received a five-year prison sentence. Notably, the DOJ states that he used advanced hacking tools to break into the network, and fraudulently authorized more than 2,000 transactions through which he moved 119,754 BTCs from the Bitfinex crypto exchange to a wallet in his control.