TechFlow news, October 16 — According to Bloomberg, U.S. prosecutors have recommended that Ilya Lichtenstein, the mastermind behind the 2016 Bitfinex exchange hack, be sentenced to five years in prison. The case involves the theft of up to $6 billion worth of cryptocurrency and is considered one of the largest cryptocurrency heists in history.
Lichtenstein pleaded guilty last year to conspiracy to commit money laundering related to the Bitfinex hack. In court filings submitted Tuesday, prosecutors argued that Lichtenstein should receive a longer sentence than his wife and accomplice, Heather Morgan. Previously, prosecutors had recommended an 18-month prison term for Morgan, a self-styled "hip-hop artist" who called herself the "Wall Street Crocodile."
Prosecutors noted that Lichtenstein fits the profile of a young cybercriminal who often treats cybercrime as routine and thus underestimates its impact on victims. In documents filed with a federal judge in Washington, they emphasized: "A strong sentence in this case will help break this harmful cycle."
