One of the largest cryptocurrency money-laundering scandals is about to play out on Netflix‘s streaming infrastructure. This documentary will go through the crypto crime committed on Bitfinex, a cryptocurrency exchange that lost over 120 thousand Bitcoin to hackers in 2016. In addition, the business plans to make a documentary on IIya and Heather, the two Americans who committed the crime.
Netflix stands out for documentaries about theft, money laundering, and scams. The streaming service is trending for its film “The Tinder Swindler,” based on actual events, about a Tinder fraudster.
A documentary on cryptocurrency theft is coming to Netflix
Even though Heather Morgan and Iiya Lichtenstein’s crypto crime was committed about six years ago, decentralized currency enthusiasts are still gaining popularity. Heather and Iiya were arrested on February 8 when proof of the theft was discovered.
According to estimates, IIya and his wife Heather stole over 120,000 BTC from the exchange, which equated to approximately 71 million USD in 2016.
The couple attempted to launder over $25,000 BTC after the heist by routing it via several exchanges and eventually to their accounts. However, the investigators discovered these transactions, estimated to be over two thousand operations, raising the couple’s suspicions.
The cybercrime was so well-executed that the pair withdrew money from ATMs in Bitcoin, purchased non-fungible tokens, and exchanged them for Walmart Gift Cards. The entire affair has inspired Netflix, which plans to film a documentary about it.
IIya and Heather’s crypto crime has come to an end
Although IIya and Heather were called Bonny and Clyde for their seemingly faultless crypto crime, the duo committed several blunders.
The perpetrators ran uncontrollable crypto activities and left behind proof of stolen funds. As a result, the authorities seized over 94 million BTC tokens in a wallet in the couple’s name, worth approximately $3.6 billion at the current price of the cryptocurrency.
Chris Smith will helm the documentary, previously filmed documentaries such as The Greatest Party That Never Happened and Tiger King for television.
Given that the perpetrators evaded authorities for over six years, it is expected that this documentary would be a complete success. Unfortunately, Bitfinex never recovered from the crypto heist, and the exchange’s reputation suffered as a result.