The story ofIlya Lichtenstein, the hacker responsible for one of the largest cyber attacks ever carried out against cryptocurrencies, reads like an episode of a TV series, yet it is absolutely real.
After being released, the man who stole 120,000 bitcoins asks for a second chance, expressing sincere regret for his past and a renewed desire to pursue cybersecurity, a field in which he would like to find a new career path.
Lichtenstein explained this in a LinkedIn post published shortly after his release from prison. He stated that in 2016, he decided to hack the then-largest cryptocurrency exchange because his startup was making next to nothing and the idea of “just stealing” seemed like a way out.
Today he calls this decision the worst of his life, admitting that it ruined not only his life, but also the lives of those close to him, and that it affected thousands of exchange users.
This refers to the high-profile hack of the Bitfinex platform, which resulted in the theft of approximately 120,000 bitcoins. Today, this sum is valued at over $10 billion. In 2023, Lichtenstein and his wife, Heather Morgan, pleaded guilty to conspiracy to commit money laundering . The couple was arrested in 2022 in their Manhattan apartment. After his arrest, Lichtenstein cooperated with the investigation, helping to recover the stolen assets and participating in investigations into other cryptocurrency-related crimes.
He emphasizes that working with the authorities was a turning point for him. While he previously lived in constant fear and paranoia, working with a team committed to solving real problems gave him purpose and allowed him to reevaluate his capabilities. He says he realized he could use his technical knowledge not to attack, but to defend himself.
Lichtenstein was sentenced to 60 months in prison and spent nearly four years in some of the toughest prisons in the United States. There, he spent much of his time in the library, studying mathematics to maintain his mental clarity. This month, he was transferred to house arrest. Now 38, he speaks openly about pursuing a career in cybersecurity.
Similar stories have happened before. The most famous example is Kevin Mitnick , one of the most famous hackers of the 1980s and 1990s, who, after prison, became a security consultant, penetration tester, and public speaker. Lichtenstein believes his main task now is to regain the trust of the professional community. He says he knows how to think like an attacker because he was one himself, and now he wants to use these skills to prevent new billion-dollar attacks.
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