CandleFocus Bitfinex Hacker Faces 5 Years, Prosecutors Seek to Deter Crypto Crime
2024-10-16
Author: Content Editor
US prosecutors have recommended a five-year prison sentence for Ilya Lichtenstein, who pleaded guilty to a money-laundering conspiracy related to the $6 billion Bitfinex hack. They argue that Lichtenstein reflects a troubling pattern among young cyber criminals who underestimate the harm caused by their actions. Prosecutors are pushing for a strong sentence to deter crypto crime and have also recommended an 18-month sentence for Lichtenstein's wife and co-conspirator. Lichtenstein admitted to orchestrating the cyberattack on Bitfinex in 2016, with authorities seizing $3.6 billion from the couple. Despite his cooperation in the investigation, prosecutors are asking for a significant sentence.
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