Netflix announces new series on Bitfinex hack involving 120,000 Bitcoin

Netflix, the streaming and production giant, will soon produce a documentary series about the Bitfinex hack. This was a financial crime that stole 119.756 Bitcoins (BTC), worth $72 million.

Netflix’s documentary will focus on a couple from New York and their connection to laundering 120,000 BTC in relation to the crime. Netflix claims that the documentary will be directed and produced by Chris Smith, an American filmmaker. Nick Bilton will serve as co-executive producers. The announcement said:

“Netflix ordered a documentary series on a scheme by a married couple to launder billions in stolen cryptocurrency in one of the most serious criminal financial crimes cases in history.”

The story is based around two main characters, Ilya Lichtenstein (the NYC couple) and Heather Morgan (the laundering of the stolen funds).

Bitcoin price movements since August 2016. Source: TradingView

Data from TradingView and Cointelegraph Markets Pro show that Bitcoin prices have soared more than 7415% since Bitfinex’s hack. This is evident in only five years.

Netflix noted that the “value of the stolen Bitcoin skyrocketed from $71 million to almost $5 billion at the time of hack”, and the couple allegedly attempted to liquidate it by creating fake identities, online accounts, and purchasing physical gold and NFTs – all the while investigators raced for the track of the money’s movements on the blockchain.

Cointelegraph has tracked the movements of stolen funds before, with the most recent movement being Feb 1, 2022.

10,000 #BTC (383,540,711 USD) of stolen funds transferred from Bitfinex Hack 2016 to unknown wallethttps://t.co/kvvWQpZoq8
Whale Alert (@whale_alert), February 1, 2022

Related: Cyber vigilante tracks down DeFi scammers who are stealing $25M worth of rug pulling

Cointelegraph interviewed an anonymous cyber vigilante, who successfully tracked down decentralized finance scammers (DeFi), responsible for the $25 million StableMagnet rug pulling and had the stolen money returned to the investors.

The entire episode reveals how the Manchester Police and the vigilante worked together to recover a single USB device worth approximately $9 million.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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