Netflix Announces To Work On A New Documentary Series About BTC Money Laundering
Netflix has just decided to make a new documentary series about a crypto laundering scheme to expose it. Recently, a blog was published in which Netflix expressed that it is going to make a documentary series of an alleged married couple’s scheme aimed at laundering billion dollars in digital currencies.
Netflix always surprises everyone by making documentary series. Now this time, it is going to make a new documentary series related to Heather Morgan and Ilya Lichtenstein. A few days ago, a married couple was traced and arrested in New York City because they were accused of laundering 120,000 bitcoin. It seems that this amount of bitcoin has a strong connection to the hack that was tested by Bitfinex in the year 2016.
In 2016, the biggest digital currency on the market was dropped below the line of $1,000. These days, bitcoin is trading at around $42,000. BTC gained a record high of $69,000 in November 2021. The couple used various online accounts as well as fake identities for liquidating digital money. Due to the efforts of forensic companies, it was possible to track down crypto through blockchain. The investigation team and law enforcement agencies proved the connection of funds with this couple.
Netflix blog post shows that Chris Smith is set to direct and execute the documentary with the help of executive producer Nick Bilton, who already worked on a project named Fake Famous, The Inventor: Out of Blood in Silicon Valley, and American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road.
The crypto market, especially digital currency exchanges, has been through a lot of attacks in the past. The attackers are targeting big firms that can hold large sums of money through hot storage wallets. These attacks were very successful because many crypto exchanges decided to suspend their services after the hack.
Mt. Gox crypto exchange faced a memorable hack in 2013/14. The hackers got succeeded in getting nearly 850,000 Bitcoin of the customers. Some coins are recovered, but many coins are still hidden in various crypto wallets. After seeing that the market was at risk, many crypto firms started to follow the security standards required for operations in the market. That’s why the hackers minimized their activities. It remains to be seen what will happen to this couple. It is still a question in people’s minds whether they are in a position to recover the money which they had stolen years ago.
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