Netflix’s documentary, Biggest Heist Ever, dives deep into the audacious crimes committed by Ilya Lichtenstein and Heather Morgan, shedding light on their remarkable ability to launder millions of dollars in bitcoin while maintaining a seemingly normal public life. This compelling film examines one of the most bizarre thefts in modern history, featuring the couple, often referred to as the modern Bonnie and Clyde by the media, who cleverly employed their tech-savvy skills to remain under the radar for years.
Initially, Lichtenstein and Morgan appeared to be an ordinary couple striving to build careers in sales and technology. However, upon relocating to New York City in 2016, they began orchestrating an intricate scheme to launder bitcoin profits. The documentary presents astonishing revelations, notably that even after their arrest, Morgan actively engaged with her followers on social media, releasing rap videos that inadvertently hinted at the enormity of their criminal activities. As detailed in the film, the couple managed to siphon off thousands from bitcoin accounts, with a substantial amount of their loot still untraceable today.
The Bitcoin Laundering Scheme: 120,000 Bitcoin
How the Couple Infiltrated Bitfinex in 2016
As the documentary unfolds, we learn about the couple’s journey in the tech industry and their dramatic transition into criminality. Friends and investigators describe them as unconventional and attention-seeking individuals. Morgan, the CEO of Salesfolk—a cold email services company—was known for her professionalism and industry expertise, highlighting the stark contrast between her public persona and their covert criminal undertakings.
Watch the documentary here
The Value of the Stolen Bitcoin: $10.8 Billion and Counting
Challenges in Recovering the Stolen Bitcoin
The documentary highlights the investigative efforts that led authorities to track the Bitfinex hacking back to Lichtenstein and Morgan. A search warrant was executed at their Manhattan apartment on February 8, 2022, where investigators uncovered a treasure trove of incriminating items, including hollowed-out books and a bag labeled “burner phones.”Correspondent Nick Bilton likened the evidence to something straight out of a poorly-written spy novel.
In 2016, the 120,000 bitcoin they embezzled was valued at approximately $72 million. However, due to the soaring value of bitcoin, by the time of their arrest in 2022, the value of this digital currency had skyrocketed to $4.5 billion. The U.S. government’s efforts culminated in recovering about $3.6 billion worth of bitcoin through advanced decryption techniques applied to Lichtenstein’s online files. Both Lichtenstein and Morgan eventually pleaded guilty to their charges, which inflated the estimated worth of their illicit activities to a staggering $10.8 billion. As Bilton aptly noted, the couple was remarkably proficient at concealing stolen assets, with around $1 billion still unaccounted for today.
References:
– TRMLabs
– Investment Exchange
– The Washington Post
– TIME
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