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17 October, 2024

Bitfinex Hacker Ilya Lichtenstein Gets Reduced Sentence for Cooperation

17 October, 2024

Ilya Lichtenstein, the hacker responsible for the 2016 Bitfinex theft, has been recommended for a reduced five-year sentence by federal prosecutors. This recommendation comes after Lichtenstein’s significant cooperation with authorities. His wife, Heather Morgan, received an 18-month sentence in connection with the case.

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The recommendation for a reduced sentence highlights the importance of cooperation in criminal investigations. Lichtenstein’s assistance likely provided valuable insights into the intricacies of the hack and the subsequent movement of funds, aiding prosecutors in their efforts to recover stolen assets.

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The Bitfinex hack remains one of the largest cryptocurrency thefts in history, with over 120,000 Bitcoin stolen. While a significant portion of the funds was recovered, the case serves as a stark reminder of the security vulnerabilities within the cryptocurrency ecosystem.