--- title: "Record High Seizure of $8 Billion in Stolen Bitcoin" description: "the news is telling about the hack of the cryptocurrencies accounts from the different part of the word and was used as illegal means" author: "Sanjay Goenka" published: 2022-02-09 canonical: https://www.mindstick.com/news/1381/record-high-seizure-of-8-billion-in-stolen-bitcoin category: "cryptocurrency" tags: ["technology", "internet", "bitcoin", "technology news", "cryptocurrency"] reading_time: 2 minutes --- # Record High Seizure of $8 Billion in Stolen Bitcoin > **The highest seizure [took place](https://answers.mindstick.com/qa/36919/which-is-the-unheard-indian-battle-that-took-place-in-history) recently by the US authority over the stolen cryptocurrencies and found up to $5 Billion.** A hacker stole the [cryptocurrency](https://www.mindstick.com/articles/327746/effective-ways-to-earn-in-cryptocurrency) that is worth **120,000 Bitcoin in 2016** and this Bitcoins has a value of $5 billion. The alleged crime is said to happen with the Bitfinex cryptocurrency exchange. ### Highlighted Facts - The platform from where such a hack was made is known as the **Bitfinex in 2016.** - As per the website, the attacker has made a total of **2000 unauthorized [transactions](https://www.mindstick.com/interview/864/explain-acid-rule-of-thumb-for-transactions).** - The imprisonment is set up by the US judicial court up to 25 years in jail. #### Read More: [Hey! Check out the 'New Logo' of Google after Eight Years it Changed Now](https://www.mindstick.com/news/1365/hey-checkout-the-new-logo-of-google-after-eight-years-it-changed-now) The alleged crime which has been made by the attacker over the crypto space is the biggest of its kind and the US official has seized the currency by the [US Department](https://answers.mindstick.com/qa/101090/what-is-the-role-of-the-us-department-of-treasury) of Justice. The crypto that was stolen by the hacker at that time from **Bitfinex was worth $70 million in 2016**. With the rise of the value of cryptocurrency, its value is worth $5 billion. Kenneth Polite, the Attorney General of the US said the seizure is proof “that government will not allow cryptocurrency to be a haven for [money laundering](https://www.mindstick.com/news/536/retired-netflix-officer-caught-in-money-laundering) or a zone of lawlessness within our [financial system](https://yourviews.mindstick.com/view/85624/how-did-crypto-trading-affect-the-whole-financial-system-of-the-world).” The money which has been confiscated by the US regulatory from the specific platform in **2016 in Bitfinex.** As per the official [news](https://www.mindstick.com/developersection/news), the hacker was breaching the platform to which he made around **2000 unauthorized** transactions and after it, he funneled the money into a [digital wallet](https://answers.mindstick.com/qa/30389/the-idfc-bank-has-partnered-with-which-digital-wallet-company-for-co-branded-virtual-visa-prepaid-card) allegedly which is run by Ilya Lichtenstein, he belonged to New York and was aged about 34. **Lichtenstein** and his wife **Heather Morgan** were both named in the complaint having a criminal nature. The source reveals the fact that about **25,000 Bitcoin** was stolen from different accounts, from different platforms. Both have also covered their tracks and used fake accounts for converting Bitcoin into any other currency. The probe regarding the matter is being investigated by the US officials including with German regulators. The US judicial committee has statuted a law for the imprisonment of a minimum of **25 years.** #### Read More: [Digital Rupee, Virtual Assets May Get a Broader Definition](https://www.mindstick.com/news/1367/digital-rupee-virtual-assets-may-get-a-broader-definition) --- Original Source: https://www.mindstick.com/news/1381/record-high-seizure-of-8-billion-in-stolen-bitcoin Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.