Up until August 3rd, only rumors existed regarding the identity of the hacker or hackers responsible for an exploit that removed more than 100,000 Bitcoin from Bitfinex in 2016.
Get ready to be enthralled by a story of high-stakes intrigue in the cryptocurrency industry! A surprising revelation has been made by one half of a legendary couple who are accused of using cryptocurrency to launder billions of dollars. The mysterious man in charge, Ilya Lichtenstein, admitted in court in the United States that he was the brains behind the daring 2016 Bitfinex attack. Get ready for the astounding details!
In a compelling CNBC article on August 3rd, Lichtenstein revealed how he planned an exploit of the renowned cryptocurrency exchange Bitfinex that resulted in the egregious loss of 119,754 Bitcoins. As part of a plea agreement with prosecutors, Lichtenstein also disclosed his involvement in a money laundering conspiracy and a conspiracy to defraud the United States, alongside his wife, Heather Morgan.
Related: Couple Pleads Guilty to Laundering $4.5 Billion in Bitfinex Hack
While Lichtenstein was open about his involvement in the Bitfinex attack, Morgan’s full scope of involvement is still unknown. Following Lichtenstein’s hearing on August 3, Morgan was due in court as both parties prepared for the impending legal storm.
Some significant Razzlekhan-related news: https://t.co/qKgOKSTXxc
— David Gura (@davidgura) August 3, 2023
Authorities revealed the startling scope of their alleged money-laundering conspiracy, with Lichtenstein and Morgan suspected of laundering a stunning 94,643 Bitcoins worth $54 million at the time of the crime, adding more complexity to the plot. The value of those coins has increased to an astounding $2.7 billion in the present. The duo’s bold strategy comprised changing some of the illegally obtained goods into gold coins, which Morgan cunningly buried in a vain effort to avoid capture.
However, the Bitfinex hacker continued his daring exploits by flying to Kazakhstan and Ukraine, where he converted some of the stolen cryptocurrency into cash that was then covertly moved to Russia and Ukraine before making it into U.S. bank accounts.
By chance, Lichtenstein and Morgan ended up with the most assets ever seized by the U.S. Department of Justice, putting their tale among the most captivating in the world of cryptocurrency crime.
Related: US Government Recovers $314K in Bitcoin from 2016 Bitfinex Hack
One and only Netflix has taken notice of their surprising antics, and a documentary series exploring the fascinating antics of this compelling duo is in the works. Prepare to be intrigued by this compelling story, which is full of unexpected turns and startling revelations.