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Bitfinex money launderer ‘Razzlekhan’ sentenced to 18 months in prison

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Heather Morgan, also known by her online persona “Razzlekhan,” has been sentenced to prison for her involvement in a large-scale money laundering operation linked to the Bitfinex exchange hack. Morgan, along with her husband Ilya Lichtenstein, was convicted for conspiring to launder over $4.5 billion worth of cryptocurrency stolen in a 2016 hack of the popular crypto exchange. Morgan received a sentence of more than two years in federal prison after being found guilty of facilitating the laundering of stolen funds, much of which was transferred across various digital wallets in an attempt to obscure the illicit activity.

The hack, one of the largest in cryptocurrency history, saw nearly 120,000 Bitcoin stolen from Bitfinex users, an amount that at the time was worth roughly $72 million but has since ballooned in value. Morgan and Lichtenstein were arrested in early 2022, and U.S. authorities managed to trace and seize a significant portion of the stolen funds, ultimately recovering over $3.6 billion in Bitcoin. Their arrests were part of a broader crackdown on cryptocurrency-related crimes, signaling the increasing efforts by law enforcement to track and combat digital asset-based money laundering.

Morgan, a self-proclaimed “serial entrepreneur” and “cybersecurity expert,” gained public attention due to her eccentric online persona and social media presence. Her involvement in the laundering scheme began when she and Lichtenstein devised a sophisticated plan to move the stolen Bitcoin through a series of transactions, using fake identities and sophisticated technology to mask their activities. However, the pair’s attempts to cover their tracks ultimately failed as investigators employed blockchain analysis tools to trace the illicit funds.

The sentencing marks a significant development in the ongoing battle against cryptocurrency-related crime, highlighting both the potential for large-scale illicit activities in the digital asset space and the growing effectiveness of authorities in prosecuting such crimes. While Morgan’s sentence is a notable outcome, the legal proceedings against Lichtenstein are still ongoing. The case serves as a reminder of the risks and legal consequences associated with illegal activities in the cryptocurrency market, and it could set a precedent for future enforcement actions targeting money laundering in the sector.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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