This Cryptocurrency Hack Was So Bad Netflix Made It A TV Show

In 2016, cryptocurrency exchange Bitfinex was hacked and 120,000 Bitcoin worth around $72 million at the time was stolen.

Recently, the US Department of Justice (DOJ) announced the arrest of a couple living in Manhattan for conspiring to launder stolen funds. Couple Ilya Lichtenstein and Heather Morgan were linked to the 2016 heist, and the price of their stolen Bitcoin rose from $72 million to nearly $5 billion over the years of the investigation. The DOJ announced that it had seized $3.6 billion of the stolen funds, with DOJ Assistant Attorney General Lisa Monaco saying during the announcement: “Today’s arrests and the department’s largest ever financial seizure show that cryptocurrency is not a safe haven for criminals.

Now Netflix has ordered a documentary series about the couple accused of laundering billions of dollars as it is alleged they attempted to liquidate the Bitcoin stack by creating multiple fake identities and accounts that bought from physical gold, NFTs, etc. Due to the transparent nature of the blockchain, hackers were able to trace the wallets containing the stolen Bitcoin, leading to posts such as Cointelegraph track any activity of these wallets. The last movement out of a stolen wallet was on February 1, 2022, when 10,000 Bitcoins worth $383,540,711 at the time were transferred to an unknown wallet.

Netflix has ordered a documentary series about a married couple’s alleged scheme to launder billions of dollars in stolen cryptocurrency in the biggest criminal financial crime case in history,“announced Netflix.

The next documentary series will be directed by Chris Smith. For more information on this story, check out this link here.

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