$4B Bitfinex Bitcoin Hack To Become an Amazon Movie

  • Amazon MGM Studio is developing a movie based on the Bitfinex hack.
  • The movie will focus on the criminals linked with the hack, Ilya Lichtenstein and Heather Morgan. 
  • The New York Times is involved in the movie’s production.

Entertainment company Amazon MGM Studio is developing a movie based on the true story of Ilya Lichtenstein and Heather Morgan, the criminals who were linked with the 2016 Bitfinex hack.

The married couple were charged with conspiracy to launder money in 2022 by the U.S. Department of Justice, pleading guilty to orchestrating a $4.5 billion money-laundering scheme related to the infamous hack. 

The movie is reported to be inspired by a 2022 article in the New York Times. The newspaper is also involved in the production, with American writer and director Hannah Marks, who will direct and write. Moreover, reports showed that “Riverdale” American actress Lili Reinhart and film producer Catherine Hagedorn will produce the movie. 

The movie, to be named “Razzlekhan,” takes its name from Morgan’s rapper stage name. Reportedly, Morgan was an aspiring rapper going by the name “Razzlekhan” while working in the cybersecurity field.

The couple admitted to stealing 120,900 Bitcoins, which were around $3.6 billion at the time and approximately $5.1 billion now. The reports claimed that Lichtenstein and Morgan agreed to forfeit their gains but, if convicted, could face up to 20 years in federal prison.

According to reports, Lichtenstein confessed to being the original hacker responsible for the 2016 cyberattack on the crypto exchange last year in August. U.S. Deputy Attorney General Lisa Monaco described the $3.6 billion as the “department’s largest financial seizure ever.”

In related news, a recent report by Chainalysis showed that the amount of funds stolen over the last year in crypto crimes decreased substantially compared to the year before. Per the report, 2023 saw a $1.7 billion loss, a 54.3% decrease from the year before.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Comments

Post a Comment

Popular posts from this blog

Aave community proposes suspending Fantom-based integration

Image
The past month has seen a series of hacks in the crypto sector. The latest hack was on hardware wallets, where 15,000 Solana wallets were affected, resulting in a loss of around $4.6 million. Aave proposal removes Fantom integration One of the most persistent hacks in the crypto space is on DeFi bridges. Bridges are an essential infrastructure that allows users to transfer funds between blockchains. For example, the native assets on one network like Avalanche can exist on another like Harmony without needing a bridge. Given this large amount of money stolen from these blockchain bridges, one DeFi protocol is taking steps to lower the risks from the sector. A recent proposal on the Aave protocol suggested that the community suspends all Fantom-based integration. Buy Aave Now Your capital is at risk. The proposal from the Aave community says that halting Fantom integration would protect users by suspending the ability to deposit and borrow assets through the Aave V3 market...
Read more

Canadian crypto traders will have a harder time using leveraged bets

Image
Join Our Telegram channel to stay up to date on breaking news coverage Canadian umbrella financial regulator, the CSA (Canadian Securities Administrators) recently decided to create a new set of rules for crypto exchanges operating in the country, according to two unnamed sources familiar with the matter. Among the new changes is apparently the rule that all crypto trading platforms that wish to operate in the country must be registered, and everyone seeking registration must sign undertakings to comply with investor protections. The CSA (Canadian Securities Administrators) declined to reveal any details, saying it would do so "in the near future.” — DustyBC Crypto (@TheDustyBC) February 17, 2023 However, this is not the end of it, as the rules will also severely affect retail investors who wish to trade crypto currencies using leveraged bets. The CSA plan is to increase its oversight of crypto exchanges that operate in Canada. This will mean tighter rules whi...
Read more

Astar launches NFT campaign to celebrate mainnet launch

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Astar Network, a Polkadot parachain, has announced an NFT campaign to celebrate the mainnet release of Astar zkEVM, an Ethereum layer-2 chain powered by Polygon technology. Astar’s NFT campaign The Astar Network’s NFT campaign, scheduled for Q1 2024, aims to celebrate the launch of the Astar zkEVM mainnet, which was built utilizing the Polygon Chain Development Kit (CDK). The campaign draws inspiration from Astar Network’s Japanese roots by using the popular Japanese capsule machines and mechanisms to award random prizes. You might also like: Astar Network launches zKatana layer-2 scaling solution on public testnet To participate in this campaign , users are encouraged to explore the projects available on Astar zkEVM. The platform offers on-chain and off-chain quests, which users can complete to earn re...
Read more