Bitfinex hacker gets five-year sentence for multi-billion dollar crypto heist

Lichtenstein and his wife Heather Morgan were arrested in 2022, and in August last year both pleaded guilty to conspiracy to commit money laundering. The stolen cryptocurrency, worth about $71 million at the time of the heist, had risen in value to nearly $4.5 billion by the time Lichtenstein and Morgan were arrested. Compared to today’s prices, the stolen funds would be worth a whopping sum of over ten billion dollars.

According to the US Department of Justice, Lichtenstein and Morgan “used a number of sophisticated fraud methods” to hide the stolen funds, including using false information, converting Bitcoin to other cryptocurrencies, buying gold, and depositing and withdrawing available funds on various darknet exchanges. of cryptocurrency.

Lichtenstein’s five-year sentence is significantly less than the 20-year maximum sentence for conspiracy to commit money laundering. Morgan, also known as “Razzlekhan” by his online rap, will be sentenced on November 18, and is expected to face up to 18 months in prison for his robbery conviction.