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Bitfinex Hacker Sentenced to 5 Years, Guilty of Laundering $10.5 Billion in Bitcoin

Bitfinex Hacker Sentenced to 5 Years, Guilty of Laundering $10.5 Billion in Bitcoin

Nov 15, 2024 Financial Fraud / Blockchain
Ilya Lichtenstein, who pleaded guilty to the 2016 hack of cryptocurrency stock exchange Bitfinex, has been sentenced to five years in prison, the U.S. Department of Justice (DoJ) announced Thursday. Lichtenstein was charged for his involvement in a money laundering scheme that led to the theft of nearly 120,000 bitcoins (valued at over $10.5 billion at current prices) from the crypto exchange. Heather Rhiannon Morgan, his wife, also pleaded guilty to the same crimes last year. They were both arrested in February 2022. Morgan is scheduled to be sentenced on November 18. "Lichtenstein, 35, hacked into Bitfinex's network in 2016, using advanced hacking tools and techniques," the DoJ said in a press statement. "Once inside the network, Lichtenstein fraudulently authorized more than 2,000 transactions transferring 119,754 bitcoin from Bitfinex to a cryptocurrency wallet in Lichtenstein's control." TRM Labs said Lichtenstein exploited a vulnerability in Bit...
U.S. Sanctions 3 Cryptocurrency Exchanges for Helping Russia Evade Sanctions

U.S. Sanctions 3 Cryptocurrency Exchanges for Helping Russia Evade Sanctions

Mar 26, 2024 Money Laundering / Digital Currency
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned three cryptocurrency exchanges for offering services used to evade economic restrictions imposed on Russia following its invasion of Ukraine in early 2022. This includes Bitpapa IC FZC LLC, Crypto Explorer DMCC (AWEX), and Obshchestvo S Ogranichennoy Otvetstvennostyu Tsentr Obrabotki Elektronnykh Platezhey (TOEP). In all, the designations cover thirteen entities and two individuals operating in the Russian financial services and technology sectors. "Many of the individuals and entities designated today facilitated transactions or offered other services that helped OFAC-designated entities evade sanctions," the Treasury  said , adding the action seeks to "target companies servicing Russia's core financial infrastructure and curtail Russia's use of the international financial system to further its war against Ukraine." Bitpapa, which offers virtual currency excha...
cyber security

10 Steps to Microsoft 365 Cyber Resilience

websiteVeeamCyber Resilience / Data Security
75% of organizations get hit by cyberattacks, and most report getting hit more than once. Read this ebook to learn 10 steps to take to build a more proactive approach to securing your organization's Microsoft 365 data from cyberattacks and ensuring cyber resilience.
PixPirate Android Banking Trojan Using New Evasion Tactic to Target Brazilian Users

PixPirate Android Banking Trojan Using New Evasion Tactic to Target Brazilian Users

Mar 13, 2024 Financial Fraud / Mobile Security
The threat actors behind the PixPirate Android banking trojan are leveraging a new trick to evade detection on compromised devices and harvest sensitive information from users in Brazil. The approach allows it to hide the malicious app's icon from the home screen of the victim's device, IBM said in a technical report published today. "Thanks to this new technique, during PixPirate reconnaissance and attack phases, the victim remains oblivious to the malicious operations that this malware performs in the background," security researcher Nir Somech  said . PixPirate, which was  first documented  by Cleafy in February 2023, is known for its abuse of Android's accessibility services to covertly perform unauthorized fund transfers using the PIX instant payment platform when a targeted banking app is opened. The constantly mutating malware is also capable of stealing victims' online banking credentials and credit card information, as well as capturing keystrokes and interc...
cyber security

The Ultimate Guide to SaaS Identity Security in 2025

websiteWing SecuritySaaS Security / Identity Threat Detection
Discover how to protect your SaaS apps from identity-based breaches with this expert 2025 guide—learn practical steps to secure every account and keep your data safe.
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