"In August 2016, approximately 120,000 bitcoin—at the time worth around $71 million—were stolen in a hack on the Bitfinex cryptocurrency exchange. Then in 2022, as the value of cryptocurrency had rocketed skywards, law enforcement officials in New York arrested husband and wife Ilya Lichtenstein and Heather Morgan in relation to the hack and laundering the much-inflated $4.5 billion of stolen cryptocurrency. (At the time, $3.6 billion of the funds were recouped by law enforcement investigators.) This week, after pleading guilty in 2023, Lichtenstein was sentenced to five years of jail time for conducting the hack and laundering the profits. With subsequent cryptocurrency spikes and additional seizures related to the hack, the US government has now been able to recover more than $10 billion in assets. A series of operational security failures by Lichtenstein made much of the illicit cryptocurrency easy for officials to seize, but investigators also applied sophisticated crypto-tracing methods to unpick how the funds had been stolen and subsequently moved around." https://www.wired.com/story/bitfinex-hacker-gets-5-years-for-10-billion-bitcoin-heist/ #Crypto #Cryptocurrencies #Hacking #USA #Bifinex #Bitcoin