As a user who held crypto on bitfinex at the time I didn't see any value in their tokens being offered. Also there were reports of an inside job. I would just like the % of my lost crypto back.
Is there a reason why no class action lawsuit has not happened?
As the previous poster stated, the coins belonged to the users.
Topic: Bitfinex Hacker of 120,000 Bitcoin Sentenced to 5 Years in Prison (Read 333 times)
November 22, 2024, 09:14:24 AM
November 21, 2024, 10:01:02 AM
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars! 
It was actually supposed to be 20 years but the one who stole all these bitcoin seems to be a genius and has promised to help authorities with crybercrime. He has helped the government in some of criminal cases since he was caught. The prosecutors hope to help him get to a rehabilitation and instead use his skills for the better. There are many geniuses out there but unfortunately, they decide to use it for things like this. I do not know what the government is thinking though. I would be uneasy to let a convicted criminal run my criminal cases just because he is good. For all we know, he can just fool the authorities and suddenly escape. But then again, if he were smart enough, he will see that 5 years serving time is a lot better than a life where you need to keep hiding and running away. Risky move from the government but if it meant that they now have a very skilled individual helping them then I guess it pays off.
"................... The prosecutors hope to help him get to a rehabilitation and instead use his skills for the better. There are many geniuses out there but unfortunately, they decide to use it for things like this.
I do not know what the government is thinking though. I would be uneasy to let a convicted criminal run my criminal cases just because he is good. For all we know, he can just fool the authorities and suddenly escape.............."
I wanted to point out this but, you are smart to voice it out.
Repentant terrorist to become a doctor!
Oneday, they will decide to use such skills against an average/modest traders.
Regards
Bitcseo
November 21, 2024, 01:45:08 AM
Hopefully, they'll sell the coins on auction or hold it for their benefits.
They can sell it at auction, but they can’t keep what they don’t own. Unless it’s proven that the hacked coins were used for illegal activities, like money laundering, those Bitcoins (now worth billions) would go to the government treasury. If that happens, they could even become part of the USA’s Bitcoin holdings.
Exactly, because this isn't confiscated money from illegal operations, it's legitimate funds from an exchange that was hacked. The government has a responsibility to return it, as long as all the required documents are properly submitted by both Bitfinex and the regulators or authorities. Cases like these often take years to resolve, just like the Mt. Gox hack, which still hasn’t fully refunded traders even after all this time.
November 15, 2024, 11:57:57 PM
Hopefully, they'll sell the coins on auction or hold it for their benefits.
They can sell it at auction, but they can’t keep what they don’t own. Unless it’s proven that the hacked coins were used for illegal activities, like money laundering, those Bitcoins (now worth billions) would go to the government treasury. If that happens, they could even become part of the USA’s Bitcoin holdings.
November 15, 2024, 05:44:23 PM
Indeed the punishment is light regarding the hacker's harm to investors and traders. But, it's better to be jailed than not. So as to relieve the grieve of the affected people. However, his solicitor may have helped in breaking the term down to 5 years. Added to the recovered Bitcoin.
The hacked Bitcoins belonged to the exchange and its users. However, the exchange took action afterward by compensating the affected users with a BFX token.
https://support.bitfinex.com/hc/en-us/articles/4417401349657-2016-Security-Breach-Bitcoin-Recovery-Frequently-Asked-Questions-FAQ
Coincidentally, it's as if the government's interest rose the moment the value of Bitcoin increased which made the hacker a billionaire. Hopefully, they'll sell the coins on auction or hold it for their benefits.
This delay in returning the funds actually worked out in Bitfinex's favor since the value of the Bitcoin during the hack was under $100 million, but now it's worth billions. The government can’t claim ownership because it’s clear from the start that it was Bitfinex’s Bitcoin that was hacked. It just needs to go through some legal processes before Bitfinex can reclaim it. Now that the hackers have been sentenced, I think they’re close to getting it back -- whether in Bitcoin or fiat, depending on the authorities’ decision.
November 15, 2024, 04:46:27 PM
Indeed the punishment is light regarding the hacker's harm to investors and traders. But, it's better to be jailed than not. So as to relieve the grieve of the affected people. However, his solicitor may have helped in breaking the term down to 5 years. Added to the recovered Bitcoin.
Coincidentally, it's as if the government's interest rose the moment the value of Bitcoin increased which made the hacker a billionaire. Hopefully, they'll sell the coins on auction or hold it for their benefits.
Coincidentally, it's as if the government's interest rose the moment the value of Bitcoin increased which made the hacker a billionaire. Hopefully, they'll sell the coins on auction or hold it for their benefits.
November 15, 2024, 03:23:04 PM
If all the bitcoins that the hacker obtained through the fraud was seized by the government, then that should explicitly explain why the hacker was sentenced to only five years in prison, he maybe did not spend the money and have lost everything to the US government, that's painful enough on its own, and adding a 5 years imprisonment to that is what I did personally assume to be fair enough.
Let's assume that he had went straight to spending all the money on flamboyant lifestyle and riotious living, and by the time he got arrested, there was nothing or almost nothing left for the government to seize except a few properties and a fleet of super cars, trust that the hackers jail term would have increased significantly.
So, lets not see that 5 years he was sentenced to prison as being too poor, I won't be surprised either if the hacker end up being employed to work with the US financial security men.
Not all of the stolen coins were recovered, but a significant portion was. I agree that a 5-year sentence seems light, but according to reports, his cooperation played a big role in reducing his sentence... It’s likely that without his help the authorities won't be able to recover 96% of the amount stolen. Let's assume that he had went straight to spending all the money on flamboyant lifestyle and riotious living, and by the time he got arrested, there was nothing or almost nothing left for the government to seize except a few properties and a fleet of super cars, trust that the hackers jail term would have increased significantly.
So, lets not see that 5 years he was sentenced to prison as being too poor, I won't be surprised either if the hacker end up being employed to work with the US financial security men.
https://apnews.com/article/ilya-lichtenstein-bitcoin-hack-bitfinex-razzlekhan-bb592f0f06cdd8c2854a1a2259660c70
There are criminals like that who cooperate because they also think that this can lessen their sentence and maybe they are being told so, but there are who are seem tough. I guess they are not scared at all to get hurt to death or even spend their whole life inside the cell. 120k of BTC seems a lot of money even before and that would be the reason on why the suspect can't spend all or most of it.
November 15, 2024, 12:12:01 PM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
And what do you propose? With the increase in the cost of bitcoin, increase the prison term for all criminals punished under articles related to cryptocurrencies? So, how much bitcoin was left in this hacker's storage (not seized by the government)?
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
Your math is wrong. In 5 years, these $100 million will be several times more expensive. So, the profit for each conditional year will be higher. Also, the advantage of this wonderful scheme is that you are guaranteed a 100% HODL, because you will be deprived of the opportunity (as well as the temptation) to sell your bitcoins and, even more so, spend it on various junk, like a Lambo and an island in the Caribbean. In theory, in a fair and lawful society, all stolen bitcoins should be confiscated. And most importantly, the confiscated bitcoins (like any money) in such cases should be returned to the victims, and not remain at the disposal of the government, which in such circumstances acts no better than the same hackers. The former steal, and the latter take it by force. Aren't they bandits?
November 15, 2024, 11:41:38 AM
One simple question - are Bitfinex users going to get their funds back or is US government going to sit on it for infinite period of time?
If the affected people are going to get back the money, I guess that's fair. But 5 years of jail term is pretty light for sure. Court must take such cases to create example for the rest and should provide strictiest penalty so that other hackers think 100 times before committing such hideous crimes with people's money!
If the affected people are going to get back the money, I guess that's fair. But 5 years of jail term is pretty light for sure. Court must take such cases to create example for the rest and should provide strictiest penalty so that other hackers think 100 times before committing such hideous crimes with people's money!
It's always hard for such a thing to happen, but with the statement I saw on the Department of Justice website, which I will quote below, I think there might be a chance for them to be held out if all the affected victims can file a complaint using the provided website.
Since they already made room to hear from affected victims, there won't be any harm in trying; that's if no attempt has been made by the victims in regard to how they can place a claim on their stolen funds as a result of that hack.
Quote from: https://www.justice.gov/usao-dc/pr/website-related-multi-billion-dollar-bitfinex-hack-established
The Department of Justice has established a website to provide any person who claims status as a potential crime victim of the crimes described below to assert any rights under the Crime Victims’ Rights Act (CVRA), 18 U.S.C. § 3771, and with the opportunity to complete a statement to relay information about how they may have been harmed by the charged conduct and/or offenses. For CVRA purposes, the government’s position is that there are no “victims” of the offenses of conviction. The Department is providing this notice out of an abundance of caution.
November 15, 2024, 11:13:59 AM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
One simple question - are Bitfinex users going to get their funds back or is US government going to sit on it for infinite period of time?
If the affected people are going to get back the money, I guess that's fair. But 5 years of jail term is pretty light for sure. Court must take such cases to create example for the rest and should provide strictiest penalty so that other hackers think 100 times before committing such hideous crimes with people's money!
November 15, 2024, 09:32:30 AM
If all the bitcoins that the hacker obtained through the fraud was seized by the government, then that should explicitly explain why the hacker was sentenced to only five years in prison, he maybe did not spend the money and have lost everything to the US government, that's painful enough on its own, and adding a 5 years imprisonment to that is what I did personally assume to be fair enough.
Let's assume that he had went straight to spending all the money on flamboyant lifestyle and riotious living, and by the time he got arrested, there was nothing or almost nothing left for the government to seize except a few properties and a fleet of super cars, trust that the hackers jail term would have increased significantly.
So, lets not see that 5 years he was sentenced to prison as being too poor, I won't be surprised either if the hacker end up being employed to work with the US financial security men.
Not all of the stolen coins were recovered, but a significant portion was. I agree that a 5-year sentence seems light, but according to reports, his cooperation played a big role in reducing his sentence... It’s likely that without his help the authorities won't be able to recover 96% of the amount stolen. Let's assume that he had went straight to spending all the money on flamboyant lifestyle and riotious living, and by the time he got arrested, there was nothing or almost nothing left for the government to seize except a few properties and a fleet of super cars, trust that the hackers jail term would have increased significantly.
So, lets not see that 5 years he was sentenced to prison as being too poor, I won't be surprised either if the hacker end up being employed to work with the US financial security men.
https://apnews.com/article/ilya-lichtenstein-bitcoin-hack-bitfinex-razzlekhan-bb592f0f06cdd8c2854a1a2259660c70
Quote
A prosecutor said Lichtenstein immediately began cooperating with federal authorities after his arrest, helping them with other cybercrime investigations.
Over 96% of the stolen funds have been recovered, with help from Lichtenstein, according to defense attorney Samson Enzer. The “vast bulk” of the stolen money was never spent, the lawyer said.
Over 96% of the stolen funds have been recovered, with help from Lichtenstein, according to defense attorney Samson Enzer. The “vast bulk” of the stolen money was never spent, the lawyer said.
November 15, 2024, 09:06:22 AM
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
5 years of sentence is really light and from what I have heard in UK they don't give death sentence to any murderer (did not confirmed it from any expert yet). Point is some countries are very strict in terms of giving sentences but I think it depends, on how many times this crime is happening in US a lot of people would be doing ML so maybe to manage their resources they only giving 5 years of punishment. Well whatever the reason could be as I am not expert. It's not like the money he laundered, all of them he can access back as you said some of them has seized by US government and that's how he lost them. I think it do not worth the shot.
November 15, 2024, 08:48:55 AM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
Changpeng Zhao helped launder billions of dollars, helped people to surpass KYC restrictions illegally, manipulated the price of BNB, did so many wrong things and only spent 3 months in prison.It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
That’s not the case that was filed against him. If he truly helped, then he would be considered a money launderer himself, and there’s no monetary settlement for something like that. Here’s the actual case filed against him.
https://www.justice.gov/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution
Bitfinex hacker stole 120K BTC and 5 years sentence but if I steal a smartphone from the electronic market, I might spend up to 10 years and in Arab countries, you might lose your hand for stealing bread. Life is so unfair and hilarious.
He stole $100 million and spends 5 years in jail but can anyone tell me if the court demands $100 million from him? Is the situation like he returned $100 million and now faces 5 years or he didn't return $100 million and faces 5 years? If the second is true, will he be able to freely use $100 million when he gets out of jail?
They’re dealing with different cases. The person in question willfully stole the funds, making it an intentional act, unlike CZ, the former CEO of Binance, whose issue was failing to implement effective anti-money laundering controls. That case was settled because CZ paid millions and Binance, as an exchange, paid billions while committing to comply with regulatory directives.He stole $100 million and spends 5 years in jail but can anyone tell me if the court demands $100 million from him? Is the situation like he returned $100 million and now faces 5 years or he didn't return $100 million and faces 5 years? If the second is true, will he be able to freely use $100 million when he gets out of jail?
As for the thief’s case, the decision has already been made, he’s been sentenced to 5 years in prison. Even if he returns the stolen funds, it won’t reduce the number of years he has to serve.
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November 15, 2024, 08:47:58 AM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
If all the bitcoins that the hacker obtained through the fraud was seized by the government, then that should explicitly explain why the hacker was sentenced to only five years in prison, he maybe did not spend the money and have lost everything to the US government, that's painful enough on its own, and adding a 5 years imprisonment to that is what I did personally assume to be fair enough.It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
Let's assume that he had went straight to spending all the money on flamboyant lifestyle and riotious living, and by the time he got arrested, there was nothing or almost nothing left for the government to seize except a few properties and a fleet of super cars, trust that the hackers jail term would have increased significantly.
So, lets not see that 5 years he was sentenced to prison as being too poor, I won't be surprised either if the hacker end up being employed to work with the US financial security men.
November 15, 2024, 06:57:13 AM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
Beyond the victory of Donald Trump at the polls last week, this is another news I'm glad to hear. I love to read about hackers/scammers/fraudsters getting caught in their own game. Now, they should realize that it's no longer business as usual. This should instill fear in those doing it. Enough of this criminals milking every little loophole to steal from investors. It's sad.Quote
Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
Well, you're right about the light sentencing. However, we should realize that with time stiffer sentencing will replace what's happening now when these criminals are caught, whether with plea bargain or not. This is better than not apprehending anyone at all to face the repercussions of their crime. November 15, 2024, 06:20:29 AM
A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
It is a proactive move made by the U.S. department of justice and this will keep hackers from performing such act. Exchanges should run forensic analyst on their site to know how vulnerable they are to hacks and probably upgrade their security system to prevent this event from happening again.
It says in the news that the man is sentenced to 5 years "over laundering". I wonder if laundering is his only case or is it a separate crime from the theft or hack itself? Because if it's the latter, it's possible there will be a different sentence for his other crime, right?
I think this 5 years sentence might be because of his cooperation with US government and his one count of money laundering conspiracy. I don't think the hacking part was not involved but might be involved later because I read somewhere that the United States are welcoming statement from victims relevant to the court's sentencing of the defendant.His wife Morgan sentence might be more than 5 years because she plead guilty on the count of money laundering conspiracy and another of conspiracy to defraud the United States.
You can check up this link for more.
https://www.justice.gov/usao-dc/2016-bitfinex-hack
November 15, 2024, 05:17:12 AM
Only 5 years sentence? I guess that's not enough. That's why this hackers have courage to hack more platform when they get out since they know the maximum sentence they can get is so low and still these hackers could still get millions of dollars thru the crime they made.
Maybe its time for law makers to draft a law that heavily penalize those criminals who stole a lot of money so that these people will get afraid to penetrate and take away the money of other people.
If they are so soft towards punishing those criminals then provably that these people will not get afraid of them and just laugh on the system they implement because it cannot hurt the cyber criminals so much.
Maybe its time for law makers to draft a law that heavily penalize those criminals who stole a lot of money so that these people will get afraid to penetrate and take away the money of other people.
If they are so soft towards punishing those criminals then provably that these people will not get afraid of them and just laugh on the system they implement because it cannot hurt the cyber criminals so much.
The legal term plea bargaining might be used to relate to this sentence. These hackers or money launders pleaded guilty to a lenient punishment. Ilya Lichtenstein and Heather Morgan would have received a harsher punishment if some of the coins had not recovered and they hadn't pleaded guilty. Such people will end up working for the government assisting them in tracking down criminals. My concern is the people who lost money during the hacks. Does the government or Bitfinex have any plans to return their investment?
November 15, 2024, 05:16:56 AM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
Changpeng Zhao helped launder billions of dollars, helped people to surpass KYC restrictions illegally, manipulated the price of BNB, did so many wrong things and only spent 3 months in prison. Bitfinex hacker stole 120K BTC and 5 years sentence but if I steal a smartphone from the electronic market, I might spend up to 10 years and in Arab countries, you might lose your hand for stealing bread. Life is so unfair and hilarious.It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
He stole $100 million and spends 5 years in jail but can anyone tell me if the court demands $100 million from him? Is the situation like he returned $100 million and now faces 5 years or he didn't return $100 million and faces 5 years? If the second is true, will he be able to freely use $100 million when he gets out of jail?
November 15, 2024, 04:57:05 AM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
It’s crazy how much Bitcoin they managed to hack, but we know when the government gets involved, it’s tough to escape. Still, the sentence of just 5 years in prison seems pretty light. If that’s the case, some might see it as worth the risk, imagine hacking $100 million and spending only 5 years in jail. That’s like earning $20 million a year behind bars!
You should check out the full story for all the details...
https://www.reuters.com/technology/us-man-sentenced-5-years-over-laundering-crypto-stolen-bitfinex-hack-2024-11-14/
Only 5 years sentence? I guess that's not enough. That's why this hackers have courage to hack more platform when they get out since they know the maximum sentence they can get is so low and still these hackers could still get millions of dollars thru the crime they made.
Maybe its time for law makers to draft a law that heavily penalize those criminals who stole a lot of money so that these people will get afraid to penetrate and take away the money of other people.
If they are so soft towards punishing those criminals then provably that these people will not get afraid of them and just laugh on the system they implement because it cannot hurt the cyber criminals so much.
November 15, 2024, 04:41:10 AM
During the hack, the stolen Bitcoin was valued at $71 million, but by the time of the arrest, its value had skyrocketed to $4.5 billion according to report. That’s an insane amount of money... A significant portion of the stolen Bitcoin was seized by the U.S. government, marking the largest financial seizure in the history of the U.S. Department of Justice.
The hacker has been secured by the authorities so we will focus on the seized bitcoins whether the US government has utilized the assets? or with the new Trump administration pro Bitcoin there is a strong reason to make the seized bitcoins as a state reserve fund. This is a large amount and if Bitcoin has touched 100K that means 120K x $ 100K is very tempting. Jump to: