lya Lichtenstein Breaks Silence from Prison, Apologizes For Bitfinex Hack In Netflix Documentary

- Ilya Lichtenstein, the man behind the infamous 2016 Bitfinex hack involving 120,000 stolen Bitcoin, has spoken out for the first time since his arrest. - Lichtenstein took full responsibility for the hack, adamantly stating he acted alone.

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Meghna Chowdhury
Meghna Chowdhury
Meghna is a Journalism graduate with specialisation in Print Journalism. She is currently pursuing a Master's Degree in journalism and mass communication. With over 3.5 years of experience in the Web3 and cryptocurrency space, she is working as a Senior Crypto Journalist for UnoCrypto. She is dedicated to delivering quality journalism and informative insights in her field. Apart from business and finance articles, horror is her favourite genre.

Ilya Lichtenstein, the man behind the infamous 2016 Bitfinex hack involving 120,000 stolen Bitcoin, has spoken out for the first time since his 2022 arrest.

In a five-minute video shared on X  on Thursday, Lichtenstein apologized for his actions, denied speculations of outside involvement, and expressed his commitment to restitution and future reform.

lya Lichtenstein Apologizes for Bitfinex Hack in Netflix Documentary

From his prison cell, Lichtenstein took full responsibility for the hack, adamantly stating he acted alone. “My dad is no hacker—he doesn’t even know how to use Instagram,” he remarked, countering a Netflix documentary’s implication that his father or foreign intelligence agencies might have been involved. He went on to express remorse, stating, “I look back at the person I was then, and I hate myself. I hate myself.”

Lichtenstein, who pled guilty to conspiracy to commit money laundering, was sentenced to five years in prison. He emphasized his ongoing efforts to return the stolen assets. “For the past three years, I have worked hard to account for and return all assets down to the last satoshi, as required by my plea agreement,” he shared. A restitution hearing scheduled for February will determine whether the recovered funds will go to Bitfinex or its affected customers.

His wife, Heather Morgan, also pled guilty to her role in laundering the stolen bitcoin. Morgan, a self-styled rapper known as “Razzlekhan,” was sentenced to 18 months in prison last month. Prosecutors noted that Morgan was unaware of the hack initially but was later drawn into her husband’s scheme. 

Also Read: DEXX Hackers Launder 6,432 ETH Worth Over $10 Million Through Tornado Cash Protocol

Lichtenstein acknowledged her as another victim of his poor decisions, stating, “In many ways, my wife is just another victim of my bad decisions.”

What was the Bitfinex Hack?

The 2016 hack resulted in the theft of Bitcoin valued at $70 million at the time, a figure that has ballooned to approximately $12 billion today. In 2022, authorities seized over 95,000 Bitcoin from wallets under the couple’s custody. 

While a Netflix documentary speculates that a portion of the funds remains unaccounted for, Lichtenstein’s legal team maintains that this is untrue.

Lichtenstein, now focused on atonement, has vowed to dedicate his future to cybersecurity. 

“When I am released from prison, I plan to dedicate myself to working in the cybersecurity industry,” he stated. Highlighting his intimate understanding of cyber threats, he expressed a desire to prevent crimes like the one he committed.

The Bitfinex hack remains one of the largest in cryptocurrency history. Lichtenstein’s public acknowledgement of his actions, combined with his expressed desire for reform, signals an attempt to turn a new leaf, even as his past casts a long shadow over the crypto world.

Also Read: LastPass Hackers Steal $5.36M in Crypto Before Christmas from 40 Unwary Victims

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