US court sentencing records and announcements

US Prosecutors Recommend 5-Year Sentence for Bitfinex Hacker Ilya 'Dutch' Lichtenstein in $7.5 Billion Case

Oct 16, 2024, 01:45 PM

US prosecutors have recommended a five-year prison sentence for Ilya 'Dutch' Lichtenstein, the mastermind behind the 2016 Bitfinex hack, which resulted in the theft of nearly 120,000 bitcoins (120,000 BTC), valued at approximately $6 billion at the time and $7.5 billion today. Lichtenstein, who has pleaded guilty to the hack and a money-laundering conspiracy, is set to be sentenced in November. His wife, Heather 'Razzlekhan' Morgan, who conspired with him to launder the stolen funds, may face a significantly lighter sentence of 18 months. The Department of Justice's recommendation highlights the serious risks associated with managing and securing cryptocurrency assets.