Bitfinex Hacker Arrest: Ending a $2.7 Billion Crypto Enigma!

Bitfinex, a popular crypto platform, was hacked in 2016. A hack following which $72 million worth of bitcoins vanished, putting the company in turmoil. The latter succeeded in reimbursing its investors. But the author of this attack has so far been a mystery.

Bitfinex hacker caught in another breach

Everyday for the thief, just one for the owner. The relevance of this famous adage is confirmed for Ilya Lichtenstein. This individual is reportedly behind the hack that cost Bitfinex 119,756 bitcoins in 2016.

Moreover, this is not a presumption since the respondent himself confessed to the facts. Confessions expressed in the context of another offense for which he was pinned. In February 2023, American police arrested Ilya Lichtenstein and his wife Heather Morgan.

US authorities accuse them of fraud and money laundering. They were suspected so far of having laundered more than 94,643 BTC. Assets, which American investigators believe, before the confessions, come from the Bitfinex hack.

As a reminder, these funds, which were worth approximately $54 million at the material time, are now worth some $2.7 billion. A tidy sum that is well worth an agreement with the authorities in exchange for a potential reduction in sentence.

It is in particular in this context that Ilya Lichtenstein confessed. The latter admitted to having converted part of the stolen assets into gold coins. Precious metals that his wife Morgan tried to hide from law enforcement by burying them.

In addition, investigations have shown that the pirate went to Ukraine and Kazakhstan. This, to convert some of the stolen cryptos into cash. Funds subsequently sent to Russia and Ukraine, before landing in US bank accounts.

Additionally, Lichtenstein acknowledged his direct role in the Bitfinex hack. That of his wife is not yet clearly established. This will be the mission of the trial which she should soon be the subject of.

The least we can say about this story is that it does not lack interest. In particular for the Netflix platform which has ordered a series of documentaries on the exploits of Lichtenstein and Morgan. To be continued.

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