Two Were Arrested in Connection to Billions in Hacked Bitcoin. But Who Did It?

Laura Shin
5 min readFeb 9, 2022

On Tuesday, the federal government seized more than 94,000 Bitcoin ($3.6 billion) directly connected to the 2016 hack of a crypto exchange called Bitfinex and arrested two individuals for allegedly conspiring to launder those funds.

(At the time of the original hack, the amount stolen was about $60 million, and the value has appreciated along with the price of bitcoin.)

The couple arrested, Ilya Lichtenstein and Heather Morgan, appeared in court Tuesday afternoon and were originally sentenced to home detention with a wearable GPS and released on a $5 million bond and a $3 million bond, respectively. However, late on Tuesday night, that was stayed, meaning they’ll only be able to leave if a court in Washington, D. C., allows it.

Ilya Lichtensten and Heather Morgan

Crypto Twitter delighted in the many delicious details of the couple’s history and online presence — from the fact that he was an alum of Y Combinator and that she was previously a Forbes contributor to the plethora of cringe-y rap videos that she had posted online.

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Laura Shin

I’m a crypto journalist, host of the Unchained pod, and author of The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze.