Razzlekhan: The Story of Bitcoin’s Most Notorious Money Launderers

Amazon MGM Studios is working on a film that will tell the story of Ilya Lichtenstein and Heather Morgan, the couple who laundered billions of dollars worth of Bitcoin stolen from the Bitfinex exchange in 2016. The film, titled Razzlekhan, will be based on a 2022 New York Times article that dubbed them as “Bitcoin’s Bonnie and Clyde”.

The Bitfinex Hack and the Bitcoin Trail

In August 2016, hackers breached the Bitfinex exchange, one of the largest cryptocurrency platforms at the time, and stole 120,900 Bitcoin, worth about $54 million then. The theft shook the crypto world and caused the price of Bitcoin to plummet by 20%. The hackers moved the stolen funds to various wallets and accounts, making it difficult to trace them.

However, in February 2022, U.S. authorities arrested Lichtenstein and Morgan, who admitted to orchestrating the hack and laundering the funds through a complex network of transactions. By then, the value of the stolen Bitcoin had surged to over $3 billion, making it one of the biggest cyber heists in history.

The couple used various techniques to obscure the origin and destination of the funds, such as mixing services, tumblers, and offshore exchanges. They also created multiple identities and aliases, including Razzlekhan, Morgan’s alter ego as a rapper and Forbes contributor.

The Rise and Fall of Razzlekhan

Morgan, who had a background in cybersecurity and journalism, adopted the persona of Razzlekhan, an “irreverent comedic rapper” who made music videos and NFTs. She used her influence and connections to promote her crypto projects and attract investors. She also wrote articles for Forbes, where she claimed to be an expert on blockchain and cybersecurity.

However, her rap career and NFTs also raised suspicions, as some of her songs and artworks contained references to the Bitfinex hack and the Bitcoin laundering scheme. For example, one of her NFTs, titled “Versace Bedouin”, featured a masked figure holding a laptop with the Bitfinex logo and the words “Hacked by Razzlekhan”. Another NFT, titled “Social Distance”, showed a pile of cash and Bitcoin with the caption “Money Laundering 101”.

In February 2022, these NFTs mysteriously disappeared from the OpenSea marketplace, adding to the mystery and intrigue surrounding Razzlekhan. Some speculated that they were removed by the authorities, while others suggested that they were part of a publicity stunt or a scam.

In June 2022, Morgan was released on bail, while Lichtenstein remained in custody. Since then, Morgan has distanced herself from the crypto and NFT spaces, and deleted her social media accounts. In August 2023, the couple pleaded guilty to money laundering conspiracy and conspiracy to defraud the United States. They agreed to forfeit their illicit gains, but could face up to 20 years in prison if convicted.

The Film Adaptation of Razzlekhan

The film Razzlekhan will be directed and written by Hannah Marks, who is known for her work on “Don’t Make Me Go”. The film will be co-produced by Lili Reinhart, who is famous for her role in “Riverdale”. The film will explore the psychology and motivations of the couple, as well as the impact of their actions on the crypto industry and the society.

The film will also feature the latest developments in the Bitfinex hack case, such as the recovery of $475 million worth of Bitcoin by the Justice Department in August 2023. The film will also address the ethical and legal issues surrounding cryptocurrency, hacking, and money laundering.

The film is expected to be a crime thriller with elements of comedy and drama. The cast and release date of the film have not been announced yet, but the film has already generated a lot of buzz and anticipation among the crypto community and the general public.