Netflix Orders Docuseries About Couple Accused of Laundering Billions in Bitcoin

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Key Takeaways:

  • Netflix has announced yesterday that it has ordered a docuseries about the recently arrested Ilya Lichtenstein and Heather Morgan.
  • They both are accused of running a large cryptocurrency laundering scheme.
  • They both were arrested for charges relating to a 2016 hack of the Bitcoin virtual currency exchange.

Netflix announced yesterday that it had ordered a docuseries about the recently arrested Ilya Lichtenstein and Heather Morgan. They both are accused of running a large cryptocurrency laundering scheme.

Ilya “Dutch” Lichtenstein and Heather Morgan were arrested in their New York City apartment on Tuesday, February 8. They both were arrested for charges relating to a 2016 hack of the Bitcoin virtual currency exchange. Reportedly the two hacked into the exchange and stole around 120,000 Bitcoin assets.

The assets they stole were tied to the 2016 hack of virtual currency exchange. As the value of the stolen Bitcoin soared from $71 million at the time of the hack to nearly $5 billion, the couple reportedly tried to liquidate their digital money. They both created fake identities and online accounts to buy physical gold, NFTs, and more. They both did this all while investigators raced to track the money’s movement on the blockchain.

A press release from Netflix describes Lichtenstein and Morgan’s case as “the biggest financial crime case in history.” Chris Smith will direct the series. He has directed many documentaries and docuseries for Netflix, including The Greatest Party That Never Happened, Tiger King and many more.

Smith executive produces the series along with Nick Bilton. His producing work includes work on documentaries and docuseries such as “Fake Famous,” “The Inventor: Out for Blood in Silicon Valley”, and “American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road.”

Lichtenstein and Morgan are charged with conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison, and conspiracy to defraud the United States, which carries five years in prison. However, in a recent court filing obtained by the Daily Beast, a lawyer for the couple said that the government’s case, especially as it pertains to Morgan, is “flimsy.”

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Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.

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