Netflix to Picture The Biggest Crypto Crime Ever -Breaking
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Netflix (NASDAQ:) caught attention with the biggest case of crypto-related money laundering in history.
It ordered the production of a documentary about Bitfinex’s 2016 hack, in which 120,000 Bitcoins had been stolen. The announcement came just days after the arrest of the married hacker couple, already labeled as “crypto Bonnie and Clyde”.
Heather Morgan (31) and Ilya Lichtenstein (34) may have stolen 119,754 Bitcoins from Bitfinex 2016. This amount was valued at $71million and close to $5 billion after the current BTC prices.
The crypto “Bonnie and Clyde” were arrested on February 8, for alleged conspiracy to launder billions in stolen cryptos after a hacker breached Bitfinex’s systems and initiated more than 2,000 unauthorized transactions.
Over the last five years, approximately 25K stolen bitcoins were moved through complex money laundering schemes. Some of these Bitcoins ended up being deposited in accounts owned by Morgan or Lichtenstein.
Millions upon millions of dollars were transferred via ATMs to purchase gold, NFTs and Walmart gift cards (NYSE:).
Special agents were able seize the remainder of the stolen Bitcoins amounting to around 94K. At the time of seizure, the value of recovered crypto was more than $3.6 billion.
According to the Department of Justice report, the “crypto Bonnie and Clyde” are charged with conspiracy to commit money laundering, and conspiracy to defraud the United States. These two charges could result in a maximum 25-year sentence.
Netflix will in the interim reconstruct and investigate the most significant financial crime case of all time.
According to the announcement, the new documentary series will be directed by an experienced team of filmmaker Chris Smith, the creator of “FYRE: The Greatest Party That Never Happened” and docuseries sensation “Tiger King”. Nick Bilton, the man behind “Fake Famous”, and “American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road” will is announced to collaborate as an executive producer of the new Netflix documentary series.
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