The value of the bitcoin stolen by hacker Ilya Lichstenstein from Bitfinex in 2016 is worth more than $10 billion now.

A New York technology entrepreneur was sentenced to five years in prison on Thursday after pleading guilty last year to laundering funds stolen from Bitfinex one of the world's largest cryptocurrency exchanges,

Ilya Lichtenstein, one of the individuals who admitted to being behind the 2016 hack of the crypto exchange Bitfinex, has been sentenced to five years in prison. In a Nov. 14 hearing in the United States District Court for the District of Columbia,

Ilya Lichtenstein stole about 120,000 bitcoin from Bitfinex in 2016 and laundered funds with the help of his wife, Heather Morgan.

Lichtenstein’s sentence is expected to serve as a deterrent amid rising concerns over cyber-related financial crimes.

A hacker has been sentenced to five years in a US prison for laundering the proceeds of one of the biggest ever cryptocurrency thefts. Ilya Lichtenstein pleaded guilty last year to hacking into the Bitfinex cryptocurrency exchange in 2016 and stealing almost 20,

A computer expert who stole bitcoin worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — has been sentenced to five years in prison.