Based

Bitcoin

when

Billion

Based on available reports, Heather Morgan, aka the “Crocodile of Wall Street”, has just been sentenced to 18 months in Prison for her part in laundering the proceeds from Bitfinex Bitcoin heist from 2016. Her case with her Husband llya Lichtenstein for laundering stolen cryptocurrency is one of the biggest in the crypto space. 
The Bitcoin stolen was valued at $71 million at the time,, now worth over $10 billion due to Bitcoin’s growth. 
<a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=Heather+Morgan+aka+%27Crocodile+of+Wall+Street%27+Sentenced+for+%244.5+Billion+Bitfinex+Bitcoin+Heist%C2%A0" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="size-full wp-image-27240 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/WhatsApp-Image-2024-11-04-at-08.16.30.jpeg" alt="WhatsApp Image 2024 11 04 at 08.16.30" width="728" height="90" title="Heather Morgan aka 'Crocodile of Wall Street' Sentenced for $4.5 Billion Bitfinex Bitcoin Heist&nbsp; 36"></a> 
<h2 id="b-morgan-s-sentence-and-post-prison-release-b">Morgan’s Sentence and Post-Prison Release</h2> 
On Monday, the sentence was handed down by the U.S. district court for the district of Columbia. Apart from with the 18 months in prison, Morgan will also be given 36 month of supervised release and a $200 fine. Lichtenstein got 5 years for orchestrating the Bitfinex hack that stole 119,754 Bitcoin. 
Despite the reduced sentence, Judge Colleen Kollar-Kotelly called Morgan’s laundering of the stolen Bitcoin “willful”. She said Morgan was contrite and the chances of her reoffending were low but still said some prison time was necessary as a deterrent for others. 
<h2 id="b-cooperation-with-authorities-helped-reduce-sentence-b">Cooperation with Authorities Helped Reduce Sentence</h2> 
Morgan and Lichtenstein reduced their potential sentences by cooperating with US authorities. Morgan convinced Lichtenstein to help with other cryptocurrency related cases, and gave valuable insights into crypto crime. 
<figure id="attachment_29523" aria-describedby="caption-attachment-29523" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-29523" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-77.jpeg" alt="'Crocodile of Wall Street' Sentenced for $4.5 Billion Bitfinex Bitcoin Heist&nbsp;" width="1792" height="1024" title="Heather Morgan aka 'Crocodile of Wall Street' Sentenced for $4.5 Billion Bitfinex Bitcoin Heist&nbsp; 37" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-77.jpeg 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-77-768x439.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-77-1536x878.jpeg 1536w" sizes="(max-width: 1792px) 100vw, 1792px">
 <figcaption id="caption-attachment-29523" class="wp-caption-text">
 ‘Crocodile of Wall Street’ Sentenced for $4.5 Billion Bitfinex Bitcoin Heist
 </figcaption>
</figure> 
According to court documents, it was pointed out that the said couple used fake identities and broken Bitcoin transactions to try to stay under the radar. Their well planned laundering scheme started to unravel when the authorities were able to track the money to their luxury Wall Street apartment in February 2022. The Bitcoin they stole was worth around $71 million at the time of their arrest and they were charged with laundering 21% of that. 
<h2 id="b-pretrial-appeal-and-motions-b">Pretrial Appeal and Motions</h2> 
Morgan’s lawyers had asked for a “time served” sentence, citing a hard time in pretrial custody, including catching COVID and recovering from surgery while in jail. This was denied, with prosecutors and the judge saying her actions were serious. 
Morgan was out on pretrial release without bail during this time. Following her prison sentence, her supervised release will likely involve close monitoring of her finances and movements to make sure she doesn’t commit any more crypto crimes. 
<h2 id="b-bitfinex-bitcoin-heist-b">Bitfinex Bitcoin Heist</h2> 
The 2016 <a href="https://cryptonews.com/news/heather-morgan-sentenced-to-18-months-in-prison/" rel="nofollow noopener" target="_blank">Bitfinex Bitcoin heist</a> is one of the biggest crypto hacks in history, not just for the amount stolen but also for its cultural impact on the crypto community. it is worthy of note that Heather Morgan at some point dubbed herself as “Razzlekhan”, a self proclaimed rapper and artist, added an extra layer of weirdness to the case that captured the public’s attention. 
<figure id="attachment_29529" aria-describedby="caption-attachment-29529" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-29529" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-78.jpeg" alt="'Crocodile of Wall Street' Sentenced for $4.5 Billion Bitfinex Bitcoin Heist " width="1792" height="1024" title="Heather Morgan aka 'Crocodile of Wall Street' Sentenced for $4.5 Billion Bitfinex Bitcoin Heist&nbsp; 38" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-78.jpeg 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-78-768x439.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/Designer-78-1536x878.jpeg 1536w" sizes="(max-width: 1792px) 100vw, 1792px">
 <figcaption id="caption-attachment-29529" class="wp-caption-text">
 ‘Crocodile of Wall Street’ Sentenced for $4.5 Billion Bitfinex Bitcoin Heist
 </figcaption>
</figure> 
Morgan’s Instagram post after her sentencing hinted she will “share her story” and “focus on creative endeavors”. Despite the legal consequences, her and Lichtenstein’s case still highlights the vulnerabilities in the crypto space. 
<h2 id="b-conclusion-b-span-style-font-weight-400-span">Conclusion&nbsp;</h2> 
Morgan and Lichtenstein’s sentence is the end of the Bitfinex Bitcoin heist chapter but it’s also a reminder of the crypto crime complexity. As the value of stolen crypto grows, this is a wake up call for the industry to get its act together. 
Stay updated with <a href="https://www.turkishnyradio.com/">Turkishnyradio</a> as we’re available around the clock, providing you with updated information about the state of the crypto world.

Heather Morgan aka ‘Crocodile of Wall Street’ Sentenced for $4.5 Billion Bitfinex Bitcoin Heist

Table of Contents

TNYR

Other articles published on Nov 19, 2024

Bitfinex And NexBridge Team Up To Offer Tokenized US Treasury Bills in El Salvador

Top 8 Coins Revealed: Discover the Best Crypto to Hold in November 2024 for Explosive 100x Returns

Sky Ecosystem USDS is live on Solana, spreading to top DEX and DeFi apps

Bitcoin Surges Above $91K As XRP Declines Amid Crypto Trends

Coinbase to delist trading of WBTC in December

Keanu (KNU) Meme Token Launches on Pump.fun (19 Nov)

Join our free newsletter for daily crypto updates!