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Ilya Lichtenstein has been sentenced for his role in a massive money laundering conspiracy stemming from the 2016 hack of the cryptocurrency exchange Bitfinex. Court documents revealed that Lichtenstein infiltrated Bitfinex’s network and executed over 2,000 transactions, transferring 119,754 bitcoin—worth $70 million at the time—into a wallet under his control. The stolen cryptocurrency’s value has since skyrocketed to an estimated $10.5 billion.

Following the theft, Lichtenstein collaborated with his wife, Heather Morgan, to launder the stolen funds. Their methods included creating fake identities to open online accounts, automating transactions using computer programs, and cycling the stolen bitcoin through darknet markets and cryptocurrency exchanges. They also converted bitcoin into other cryptocurrencies, used crypto mixing services to obfuscate transactions, and exchanged some funds for gold coins. Additionally, they legitimized parts of their activity by depositing funds into U.S.-based business accounts.

Both Lichtenstein and Morgan pleaded guilty last August to one count of conspiracy to commit money laundering. While Lichtenstein’s sentence has been handed down, Morgan is set to be sentenced later this month, marking the conclusion of one of the largest cryptocurrency heist cases in history.

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