Netflix Orders Crypto Series About A Couple That Laundered Worth Billions BTC from the 2016 Bitfinex hack

• Famous American streaming service Netflix announced that it has ordered a documentary series about a couple who claimed to have laundered BTC worth around billions of dollars from the 2016 Bitfinex hack.

• The couple named Heather Morgan and Ilya “Dutch” Lichtenstein are reportedly arrested on Tuesday from their apartment in New York.

• Morgan is an aspiring rapper while her husband, Lichtenstein co-founded a Y-Combinator-backed startup. The Department of Justice (DOJ) seized 94,636 bitcoins from the couple. 

On Friday, the popular streaming service, Netflix announced that it is sponsoring a documentary series that is about the biggest financial crime case in history that involves a couple alleged to wash away stolen cryptocurrency that worths billions of dollars 

Chris Smith, Nick Bilton Will Be The Executive Producer Of Crypto Series

Netflix informed that the Bitfinex documentary series will be directed and produced by the famous Chris Smith, best known for directing “Tiger King” and “FYRE: The Greatest Party That Never Happened”

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Joining the stellar team will be Nick Bilton, writer, and producer. He has authored some amazing books such as “American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road”, “The Inventor: Out for Blood in Silicon Valley” and “Fake Famous”. Bilton will also executive produce the Bitfinex documentary series.

The documentary will be based around a couple, as mentioned earlier, who from a cryptocurrency exchange in 2016 laundered Bitcoin worth more than $4 billion. As explained by Netflix, the couple christened Ilya ‘Dutch’ Lichtenstein and Heather Morgan were arrested from their New York Apartment on February 8. They are alleged to launder 120,000 Bitcoin. 

ALSO READ – CRYPTOCURRENCY COINS AND TOKENS HAVE REACHED THEIR PINNACLE

Lichtenstein is the co-founder of a Y-Combinator backed startup, Mixrank, and has dual-citizenship, U.S. and Russian, while Morgan raps under the artist name Razzlekahn.

Morgan calls herself an “irreverent comedic rapper” and “crocodile of Wall Street”. She is also a former Forbes contributor. After her arrest, the videos of the 31-year-old rapper were widely circulated and made fun of. 

The announcement of the couple being arrested came on Tuesday from the U.S. Department of Justice (DOJ). According to the court documents, the couple “allegedly conspired to launder the proceeds of 119,754 bitcoin” stolen from Bitfinex, the virtual exchange.

DOJ Seized 94,636 BTC From The Couple

As the DOJ claims, they seized 94,636 BTC from the couple. This is the largest cryptocurrency exchange seizure to date that was worth more than $3.6 billion when they were collected from the couple. 

The court document also states techniques used by the couple to launder such a large amount of Bitcoins. It details laundering techniques such as using computer programs to automate transactions, using fictitious identities to set up online accounts, depositing stolen funds into accounts at various cryptocurrency exchanges and darknet markets. They even used a practice like ‘chain hopping’ which means using anonymity-enhanced virtual currency (AEC).