In its early years, cryptocurrency was viewed as a playground for hackers and other malicious entities. While this is now a lot more clear and recognized, it’s still reminiscing about its past.
In 2016, Bitfinex was the victim of one of the most notorious Bitcoin hacks. A person stole approximately 120,000 Bitcoin from the exchange. Given all that has happened since then, Netflix is planning to make it a documentary.
Let’s get started.
Bitfinex Hacks for 120,000 BTC in 2016
In August 2016, cryptocurrency, although much smaller than it was at the time, suffered a major shakedown when Bitfinex reported that 119.756 BTC had been stolen from its platform. The amount stolen was approximately $66 million.
Mt. Although the Mt. The 120K BTC currently has a value of more than $5 billion as of the writing.
The theft caused a lot of confusion and frustration in all cases. The vulnerability was evident in the way that the exchange set up its accounts. BitGo, a BTC wallet provider, added an extra layer of security to the transactions.
Fast forward to 2022: A Couple Are Arrested by the US DoJ
A few days ago, CryptoPotato reported on February 8th that Heather Morgan (31) and Ilya Lichtenstein (34) were arrested by the US authorities. After an attacker took them through more than 20,000 unauthorized transactions on Bitfinex during the above heist, they were accused by the DoJ of conspiring with to launder 119.754 BTC.
Important clarification: The couple is not accused of orchestrating the hack, but of trying to launder the money that was stolen. Many believe they were not responsible for the hack, despite some ridiculous circumstances.
One example of strange events is that authorities claimed they discovered the private keys to the BTC fortune on a cloud service. The accused were able to access the private keys to 120K BTC via what could easily have been Google Cloud. For anyone who is new to cryptocurrency, it is important to keep your private keys safe on any offline media. Check out our comprehensive guide for more security tips.
All things considered, Netflix seems to have been drawn to the drama surrounding these events.
Netflix wants to make it a documentary
According to a press release, February 11, 2009:
Netflix ordered a documentary series on a couple that allegedly plotted to steal billions of dollars of cryptocurrency. This is the largest criminal financial crime case ever.
Fair enough, it’s not the “biggest financial criminal case” in history. The Gox hack took BTC in an amount of six times as much.
The documentary will be directed and produced in any event by Nick Bilton and Chris Smith.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.