Crypto Fraudster Enters Plea Deal in $4.5B Bitcoin Theft Case
Potential Settlement in View
Heather and her husband have been embroiled in a Crypto Theft case in which both were accused of being extensively involved in laundering up to $4.5 billion in Bitcoin. According to a Bloomberg report, citing people familiar with the matter, the couple duo are scheduled to appear for a plea hearing on August 3.
This schedule comes after a year since both couples were charged in what is regarded as one of the highest-profile fraud cases in the industry today. Per the report, the couple had been requested by US District Judge Colleen Kollar-Kotelly to provide a copy of the plea agreement by July 27 even though the exact details of the plea remain unknown.
Heather and Ilya were indicted as being a co-conspirator in the 119,754 units of Bitcoin stolen after the 2016 hack of the cryptocurrency exchange Bitfinex. The couple was accused of opening multiple accounts to siphon the funds through multiple exchanges and darknet marketplaces.
Some of the funds laundered were notably used to buy different exotic items including Non-Fungible Tokens (NFTs), golds, and Walmart Gift Cards. The couple was arrested in February 2022 but requested time before being charged in what is now being tagged as an attempt to enter a plea bargain.
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Must ReadDespite their arraignment, neither Heather nor her husband was accused of the actual hack of the Bitfinex exchange.
Consistent Crackdown on Fraudulent Entities
United States Regulators have been on the tail of fraudulent actors in the digital currency ecosystem over the past year. While the industry has continued to evolve in unique ways, the United States Securities and Exchange Commission (SEC) has been largely proactive in addressing these issues case by case.
One of the unique cases that has been addressed thus far is that of former Coinbase Product Manager Ishan Wahi who was accused of Insider Trading offenses. Ishan Wahi’s case also ended up as a settlement as reported back in May by Coingape.