120,000 Bitcoin Theft: Bitfinex Hacker Refutes Netflix Documentary’s Story
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In a direct address to the public, Ilya Lichtenstein, who pleaded guilty last year to charges connected to the 2016 theft of approximately 120,000 Bitcoin from the crypto exchange Bitfinex, issued a new statement on Thursday refuting alleged third-party involvement in the hack. His five-minute video, posted to X, represents Lichtenstein’s first publicly available statement since his arrest in 2022. He directly challenged claims made in a Netflix documentary suggesting his father—or any external party, including possible foreign intelligence agencies—participated in the infamous heist.
Lichtenstein Stole 120,000 Bitcoin Alone
Speaking to the camera, Lichtenstein said: “I planned and executed the Bitfinex heist entirely by myself. And I am the one who bears full responsibility for everything that has happened.” He further disputed other speculations, stating: “Any allegations that my elderly and not at all tech-savvy father had any involvement in any hacking activity ever are completely false and frankly absurd.”
The 2016 hack of Bitfinex stands as one of the most significant security breaches in crypto history. At the time, the theft of 120,000 Bitcoin was valued at approximately $72 million, though the current market value of those coins is estimated to exceed $12.6 billion. Prosecutors have previously noted that Ilya’s wife, Heather “Razzlekhan” Morgan, became involved only after the fact, having pleaded guilty to one count of money laundering conspiracy and one count of conspiracy to defraud the United States.
In the video, Lichtenstein maintained that Morgan’s role did not extend to hacking or orchestrating the theft itself: “While it is true that my wife pleaded guilty to laundering a small portion of the funds, she was in no way involved in the hack itself. She didn’t even know about it for years.”
According to official statements and the plea agreement, Lichtenstein has been cooperating with authorities to facilitate the return of stolen funds. During the video, he reiterated these efforts: “For the past three years, I have worked hard to account for and return all assets down to the last Satoshi as required by my plea agreement. And I will continue to do so throughout the forfeiture and restitution process, which is expected to return more than $10 billion by the first quarter of next year.”
Lichtenstein openly acknowledged his wrongdoing: “I hacked Bitfinex. I stole and laundered thousands of Bitcoin. And I am so sorry for everything.” He expressed remorse and a desire to make amends, describing himself as having made “one bad selfish decision after another” during the period of the hack and its aftermath. Emphasizing his sole responsibility, he stated: “Nobody else except for me is responsible for the hack.”
He also indicated plans for his future following the completion of his prison sentence: “When I am released from prison about a year from now, I plan to dedicate myself to working in the cybersecurity industry.” Claiming a unique perspective informed by his past illicit activities, Lichtenstein believes he can contribute to cybersecurity defenses going forward: “Nobody understands how hackers think like someone who has been a hacker… I know the cyber threats that we face, and I know how to stop them.”
All claims, as Lichtenstein noted, can be verified by publicly available court documents. He advised Netflix viewers to read these documents to develop their own informed conclusions: “You don’t have to take my word for it. All of the court documents laying out the facts of the case are publicly available. You can read them yourself and make up your own mind.”
Neither representatives of Bitfinex nor Netflix have publicly commented on Lichtenstein’s video at the time of reporting.
At press time, Bitcoin traded at $102,371.
Featured image from X, chart from TradingView.com
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