Bitfinex Cybercriminal Receives 5-Year Prison Term, Admits to Laundering $10.5 Billion in Bitcoin

The individual named Ilya Lichtenstein, who admitted culpability for the 2016 breach of the digital currency marketplace Bitfinex, has been handed down a five-year jail sentence, as disclosed by the U.S. Department of Justice (DoJ) on Thursday.

The individual named Ilya Lichtenstein, who admitted culpability for the 2016 breach of the digital currency marketplace Bitfinex, has been handed down a five-year jail sentence, as disclosed by the U.S. Department of Justice (DoJ) on Thursday. Lichtenstein was found guilty of participating in a money washing plot that resulted in the embezzlement of nearly 120,000 bitcoins (amounting to more than $10.5 billion in current coin values) from the cryptocurrency platform.

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