The hacker who stole $11 billion worth of bitcoins has been sentenced to prison

The hacker who stole $11 billion worth of bitcoins has been sentenced to prison

A US court sentenced Ilya Lichtenstein to five years in prison, who in 2016 carried out one of the biggest thefts in the crypto market, stealing 120,000 bitcoins from the platform Bitfinexworth 11 billion dollars.

It is Liechtenstein, as reported by the newspaper The Independent, together with his wife Heather Morgan, hacked the network with a devised plan and tried to hide the traces of the stolen funds through complex transactions. This crime, according to Judge Colleen Kolar-Kotelli, was “carefully planned” and an example of highly sophisticated money laundering.

Bitfinex’s lawyers stated that the theft seriously threatened the company’s finances and customer confidence, as the stolen funds made up as much as 36% of the company’s assets at the time. The company had to take urgent measures in order to cover the losses from its own resources, without endangering the clients.

During the trial, Lichtenstein expressed remorse for his actions, noting that he wanted to dedicate himself to fighting cybercrime in the future. The verdict for his wife, who was admitted to complicity, is expected in the coming days.

This case is a warning that crimes in the digital space are under the watchful eye of the law, and the judge said that such acts will not go unpunished.

Source: BIZLife

Photo: myriammira/Freepik