by in
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The #crocodileofwallstreet is like a financial predator, stealthily tracking its prey and pouncing on unsuspecting victims. Similarly, the #cryptocrimetracking is like a digital sleuth, hunting down cyber criminals and bringing them to justice.
Heather Morgan and Ilya Lichtenstein acquired 120,000 bitcoins in August 2016, worth a combined $72 million. They were unable to cash out the bitcoins quickly and faced difficulty laundering them, eventually resulting in their arrest in early 2022 with money laundering charges. They are now facing up to 20 and 10 years in prison, respectively. US law enforcement was able to trace the stolen bitcoins on the blockchain through the perpetrator’s attempts to cover his tracks. Lichtenstein employed numerous sophisticated laundering techniques, and he and Morgan buried gold coins as part of their laundering efforts.
Bulletpoints:
• Heather Morgan and Ilya Lichtenstein acquired 120,000 bitcoins worth a combined $72 million in August 2016
• They were arrested in early 2022 with money laundering charges and face up to 20 and 10 years in prison, respectively
• US law enforcement was able to trace the stolen bitcoins on the blockchain
• Lichtenstein employed numerous sophisticated laundering techniques, including utilizing computer programs to automate transactions, chain hopping, depositing funds into cryptocurrency mixing services, and burying gold coins
• The restitution process could produce some peculiar results for different claimants, depending on the form the assets were recovered in
