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Netflix to produce documentary series on Bitfinex hack attack worth billions

 


The major streaming service Netflix will soon be shooting a documentary series about the notorious hacker attack on the Bitfinex crypto exchange, in which a total of 119,756 Bitcoin ( BTC ) were stolen in 2016 for a value of almost 72 million US dollars at the time.


The documentary focuses on a couple from New York who are said to have been involved in the money laundering of the 120,000 BTC. According to Netflix, filmmaker Chris Smith has been hired to direct the project, while Nick Bilton is serving as co-executive producer. The related announcement states:


"Netflix has commissioned a docuseries about a couple allegedly laundering billions of dollars in cryptocurrency in connection with one of the biggest financial crimes in history."

The two New Yorkers Ilya Lichtenstein and Heather Morgan are said to have played a key role in laundering the stolen funds from the Bitfinex hack.



Bitcoin price since August 2016. Source: TradingView

As data from Cointelegraph Markets Pro and TradingView shows, Bitcoin price is up a whopping 7,415% since the Bitfinex attack.


Accordingly, Netflix also points out that “the value of the stolen Bitcoin has now risen from USD 71 million to almost USD 5 billion”. The pair of crooks may have attempted to siphon off the funds through a variety of fake accounts, using them to purchase gold, NFTs, and other investment products, but at the same time, law enforcement officials were already working to trace the movements of the money on the blockchain.


Cointelegraph recently summarized these movements , with the most recent capital flow recorded as late as February 1, 2022.



However, incidents of this kind can also have a happy ending, as illustrated by the case of an “online avenger” who told Cointelegraph how he took down a fraudulent DeFi project that cost crypto investors more than 25 million US dollars had facilitated.


In the video below, the white hat hacker explains in detail how he worked with Manchester Police to arrest the crooks.

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