A hacker has been sentenced to five years in a US prison for laundering the proceeds of one of the biggest ever cryptocurrency thefts. Ilya Lichtenstein pleaded guilty last year in the case involving the Bitfinex cryptocurrency exchange being hacked in 2016 and the theft of almost 120,000 bitcoin.

Ilya Lichtenstein, who pleaded guilty to theft and laundering charges last year, was sentenced to 60 months in prison. He was sentenced for laundering and stealing nearly 120,000 Bitcoin, currently valued at $10.5 billion, from Bitfinex, a global crypto exchange.

A computer expert who stole bitcoin worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — has been sentenced to five years in prison.

Ilya Lichtenstein, who pleaded guilty to the 2016 hack of cryptocurrency stock exchange Bitfinex, has been sentenced to five years in prison, the U.S. Department of Justice (DoJ) announced Thursday.

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Ilya Lichtenstein was sentenced to five years for a money-laundering scheme to conceal stolen cryptocurrency. Lichtenstein hacked Bitfinex in 2016, siphoning off 120,000 bitcoins valued at $70 million.