As a seasoned crypto investor with over a decade of experience in this dynamic and ever-evolving industry, I find myself reflecting on the recent developments surrounding the Bitfinex hack case. Ilya Lichtenstein’s statement, while expected, offers a sobering reminder of the realities that come with such reckless actions. It seems he is attempting to shift the blame onto his wife, but the evidence presented in court speaks for itself.
Following his sentence of five years in prison for stealing and laundering Bitcoin from Bitfinex, Ilya Lichtenstein posted a statement online.
In a post on December 19th, Lichtenstein repeated several statements from his court proceedings that led to his imprisonment. He admitted to hacking Bitfinex in 2016 and laundering a large number of Bitcoins, but he implied that he wished to take full responsibility for the crime rather than his wife, Heather Morgan, who was also given prison time for her part in laundering Bitcoin (BTC).
Lichtenstein admitted in a recorded message from prison that he consciously chose to act unethically, not because of any concern for others, but solely due to his self-centeredness,” (paraphrased)
He added:
“I planned and executed the Bitfinex heist entirely by myself, and I am the one who bears full responsibility for everything that has happened […] [My wife] was in no way involved in the hack itself. She didn’t even know about it for years.”
As Morgan, better recognized by my rap persona “Razzlekhan,” I admitted guilt for conspiring to commit money laundering and defraud the U.S. government in November, which resulted in an 18-month prison sentence. Since then, I’ve resumed my activity on social media platforms, discussing my home detention experiences and inviting requests from my followers for Cameo videos on my YouTube channel.
Backstory of Bitfinex hack
In 2016, the hack on the Bitfinex exchange was a major incident within the cryptocurrency world, leading to the theft of approximately 119,754 Bitcoins. At that time, this amount was equivalent to millions of dollars, but today it’s worth over $12 billion.
In 2022, U.S. authorities apprehended Lichtenstein and Morgan on charges of money laundering associated with Bitfinex. However, during court proceedings, Lichtenstein confessed to orchestrating the hack.
In the course of their probe, officials from the Justice department confiscated the funds, but Lichtenstein assured that they would start refunding affected users by the beginning of the following year. A court date for a hearing regarding reimbursement in both Lichtenstein’s and Morgan’s case has been set for February 21st.
The high-profile case drew the attention of streaming platform Netflix, which released a documentary series on the husband and wife. Lichtenstein pushed back against suggestions from Netflix that his father may have been involved in the events surrounding the Bitfinex breach:
“My dad is no hacker. He doesn’t even know how to use Instagram.”
Is Morgan back to promoting her brand?
It’s not clear what led Lichtenstein, who has 1,167 followers, to ask his audience to discern between his and his wife’s actions related to the Bitfinex hack. Following her sentencing hearing on November 18th, Morgan indicated in a social media post that she would be focusing on “creative pursuits” or similar endeavors in the future.
On December 13th, she established her Cameo channel where users pay $125 to receive personalized video messages from her. She leveraged her criminal past on this platform, self-proclaiming as “crypto’s favorite felon” and the spouse of a renowned hacker, while soliciting funds.
According to court documents, Morgan has been scheduled to begin his incarceration at the Federal Correctional Institution in Danbury, Connecticut, starting from January 24 at the earliest. This institution, which accommodates both male and female prisoners, currently detains Caroline Ellison, the former CEO of Alameda Research, who is serving a two-year term for her involvement in the collapse of the crypto exchange FTX.
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2024-12-19 19:56