120,000 Bitcoin Theft: Bitfinex Hacker Refutes Netflix Documentary’s Story

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As a researcher, I have spent countless hours delving into the world of cryptocurrency and its associated crimes. In the case of Ilya Lichtenstein, his recent statement provides a unique perspective into one of the most significant security breaches in crypto history – the 2016 Bitfinex hack.

Addressing the public directly, Ilya Lichtenstein, who admitted guilt last year over charges linked to the 2016 Bitcoin theft from Bitfinex (around 120,000 BTC), released a new statement on Thursday denying any third-party involvement in the hack. This is his first public statement since his arrest in 2022 and can be found on X. In this five-minute video, Lichtenstein firmly dismissed claims made in a Netflix documentary that implicated his father or any other external parties, including potential foreign intelligence agencies, in the notorious heist.

Lichtenstein Stole 120,000 Bitcoin Alone

In a direct address to the camera, Lichtenstein declared: “I orchestrated and carried out the Bitfinex heist single-handedly. All consequences that followed are solely on my shoulders.” He also firmly dismissed other conjectures, asserting emphatically: “Any claims suggesting my technologically unsavvy elderly father ever participated in any hacking activities are utterly false and quite preposterous.

Back in 2016, the Bitfinex hack is recognized as one of the most substantial crypto security breaches ever recorded. During this incident, around 120,000 Bitcoins, worth approximately $72 million at the time, were stolen. If you were to calculate their current market value, it would surpass an astounding $12.6 billion. Notably, Ilya’s wife, Heather “Razzlekhan” Morgan, wasn’t directly involved in the initial hack; she admitted guilt for one count of money laundering conspiracy and one count of conspiring to defraud the United States only after the fact.

In the video, Lichtenstein clarified that Morgan’s responsibilities did not involve hacking or planning the actual theft: “Although it’s correct that my wife admitted to laundering a minimal amount of the stolen money, she had no part in the hack itself. She was unaware of it for years.

As per official declarations and the terms of his plea deal, Lichtenstein has been assisting authorities in the recovery of misappropriated funds. In a recent video, he emphasized this cooperation: “For the last three years, I’ve put in considerable effort to trace and return every single unit, right down to the smallest Satoshi, as stipulated by my plea agreement. I will persist in doing so throughout the forfeiture and restitution procedure, which is projected to recover over $10 billion by the first quarter of next year.

Lichtenstein confessed openly that he was responsible for hacking Bitfinex, admitting to stealing and laundering numerous Bitcoins. He expressed deep regret and a wish to make amends, describing his actions during the hack and its aftermath as a series of selfish decisions made solely by him. Emphasizing his individual accountability, he stated clearly that no one else but himself was responsible for the hack.

After serving his prison term, which is expected to end approximately a year from now, Lichtenstein intends to focus on pursuing a career in the field of cybersecurity. Drawing upon his past experiences with illegal hacking activities, he asserts that his insights can aid in enhancing cybersecurity defenses: “Given my background in illicit hacking, I have a unique perspective that could prove beneficial for understanding and combating future cyber threats.

Lichtenstein pointed out that all statements can be confirmed using publicly accessible court records. He suggested that Netflix viewers should review these records to form their own unbiased opinions: “You don’t need to rely on my account. The factual details of the case, as presented in the publicly available court documents, are at your disposal. Feel free to examine them and arrive at your own conclusions.

At the point of this report, neither Bitfinex nor Netflix has made any public statements regarding Lichtenstein’s video.

At press time, Bitcoin traded at $102,371.

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2024-12-20 10:44