🔥 Key Takeaways
- Bitfinex hacker Ilya Lichtenstein has been released from prison to home confinement after serving a portion of his sentence.
- Lichtenstein credits former US President Donald Trump for his early release, although the White House has defended the decision without taking credit.
- The hacker was behind the 2016 theft of over 119,000 Bitcoin, worth approximately $11 billion at current prices.
Bitfinex Hacker’s Early Release Sparks Controversy
In a shocking turn of events, Ilya Lichtenstein, the mastermind behind the 2016 Bitfinex hack, has been released from prison to home confinement. Lichtenstein, who stole over 119,000 Bitcoin (worth approximately $11 billion at current prices), has credited former US President Donald Trump for his early release. However, the White House has defended the decision without taking credit for the action.
The Bitfinex Hack: A Brief Recap
In August 2016, hackers breached the security systems of Bitfinex, a Hong Kong-based cryptocurrency exchange, and stole approximately 119,756 Bitcoin. The heist was one of the largest in cryptocurrency history, and it sent shockwaves through the market. An investigation led by the US Department of Justice ultimately led to the arrest and conviction of Ilya Lichtenstein and his wife, Heather Morgan.
Lichtenstein’s Release: A Controversial Decision
Lichtenstein’s early release has sparked controversy in the cryptocurrency community, with many questioning the decision to release a convicted felon who committed such a serious crime. While Lichtenstein has credited Trump for his release, the White House has distanced itself from the decision, stating that it was made by an independent judicial authority.
Implications for the Cryptocurrency Market
The release of Ilya Lichtenstein serves as a reminder of the ongoing risks and challenges faced by the cryptocurrency market. As the market continues to grow and mature, it is essential that exchanges, regulators, and law enforcement agencies work together to prevent and prosecute crimes like the Bitfinex hack.
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