When news broke earlier this week that the Department of Justice had seized $3.6 billion worth of allegedly stolen bitcoin, we had a few questions. What do these revelations about government intervention in crypto mean? Will this scandal have a lasting impact on the sphere of decentralized finance? More importantly, which streaming service will commission a documentary about bitcoin’s Bonnie and Clyde?
At least one of our questions has been answered: today, Netflix announced that it will tell the story of what it calls “the greatest criminal financial crime case in history” with the help of the director Chris Smith, who brought “FYRE: The Greatest Party That Never Happened” and “Tiger King” to the streaming service. Smith will serve as executive producer alongside Nick Bilton, who produced the HBO documentary” The Inventor: Out for Blood in Silicon Valley” on the failure of Theranos.
Like the stories of Elizabeth Holmes and Billy McFarland, Smith and Bilton have a lot to do here. The suspected criminals, Ilya “Dutch” Lichtenstein and Heather Morgan (who moonlights as rapper Razzlekhan), were arrested on Tuesday for conspiracy to launder nearly 120,000 bitcoins, which are now worth around $5 billion. . Currently, the husband-wife duo are awaiting trial, but they have not been released on bail because the prosecutor deemed them to be at risk of absconding. According to Bloomberg, Lichtenstein kept a folder called “personas,” and there was a file on his computer called “Passport_ideas” with links to fake passports. The prosecutor added that a plastic bag labeled “burner phones” was found under their bed. You can’t make this stuff up, which is why movies based on a true story rock Hollywood.