HomeCRYPTOCURRENCY NEWSThe Feds Arrested a New York Couple and Took $3.6 Billion Worth...

The Feds Arrested a New York Couple and Took $3.6 Billion Worth of Cryptocurrency That Had Been Stolen From Them.

In connection with the alleged conspiracy to launder $4.5 billion in stolen bitcoin funds, a New York couple was detained and prosecuted.
A total of $3.6 billion in money has been seized by law enforcement officers in what US Deputy Attorney General Lisa Monaco has described as “the department’s greatest financial seizure ever.”

They are suspected of attempting to launder money obtained through a massive hack of cryptocurrency exchange Bitfinex in 2016. Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, are both charged with money laundering.

Following a rash of heists from cryptocurrency sites, the arrests and money seizure are considered a victory for US law enforcement.
Attacks against virtual currency exchanges have resulted in hackers making off with hundreds of millions of dollars at a time in the last several years.


According to Justice Department officials, Lichtenstein and Morgan have been charged with conspiracy to commit money laundering, which carries a sentence of up to 20 years in prison, and conspiracy to defraud the United States, which carries a sentence of up to five years in jail.
An attorney for the couple could not be reached for comment at the time of publication.

Officials from the Justice Department declined to comment further because of an ongoing investigation, citing the fact that no charges have been filed in connection with the actual Bitfinex attack.

Law enforcement agencies have become more aggressive in their pursuit of and seizure of cryptocurrencies, which has become increasingly popular among criminal hackers as the economic toll of ransomware and other intrusions has escalated.
US authorities recovered $2.3 million of the $4.4 million in ransom that Colonial Pipeline paid to a Russian-speaking gang last year, according to reports.

As Tom Robinson, co-founder of cryptocurrency analysis firm Elliptic explained to CNN, “this demonstrates that even when sophisticated money laundering techniques are employed, the indelible blockchain records almost always allow law enforcement agencies to link criminal activity to specific individuals.”

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