Heather Morgan, the suspect in the Bitfinex bitcoin hack of $3.6 billion in 2016, is presently discussing a plea bargain with a federal prosecutor in order to conclude her criminal case without her serving time for the allegations against her.
Ms. Morgan, who is also a rapper and a businesswoman, is currently free after paying a $3 million bond. She appeared in federal court in Washington D.C. by phone from her residence in New York City on Monday as part of court procedures connected to her allegations. Her spouse, Ilya Lichtenstein, who was not present at the hearing, is also accused. The pair was detained in early February by Department of Justice agents for attempting to launder over $3.6 billion in Bitcoin tied to the Bitfinex exchange breach in 2016.
According to the Department of Justice, the pair set up internet trading accounts using false names. They then used computer programmes to automate repeated transactions to transfer the stolen funds into accounts established at various cryptocurrency exchanges and darknet markets. The pair then withdrew the cash and converted it to Bitcoin and other cryptocurrencies, establishing a trail of transactions in an attempt to conceal their origins.
The suspects have been charged with masterminding the Bitfinex attack in 2016. The accusations are exclusively related to money laundering and conspiracy to deceive the US. If convicted, the first offence has a potential term of 20 years, while the second charge carries a maximum sentence of 5 years.