Amazon MGM Studios is set to develop a movie titled “Razzlekhan,” based on the true story of Ilya Lichtenstein and Heather Morgan. This couple is infamously known for laundering billions in Bitcoin related to the 2016 Bitfinex exchange hack. The production, as reported by Deadline on January 26, is inspired by a New York Times article from 2022, which described the duo as “Bitcoin’s Bonnie and Clyde.”
The heist and its aftermath
In August 2016, Bitfinex experienced a significant security breach, leading to the theft of approximately 119,754 BTC. Lichtenstein and Morgan were implicated in laundering over 94,643 BTC of these funds through small, intricate transactions across various accounts and platforms. Their method involved dispersing the digital currency in a calculated manner to evade detection. However, their activities eventually caught the attention of U.S. authorities, leading to their arrest in February 2022. At the time of the Bitfinex hack, the seized Bitcoin was valued at around $54 million, but by the time of their apprehension, its worth had skyrocketed to over $3 billion.
Legal proceedings
In a significant turn of events in August 2023, Lichtenstein and Morgan reached a plea deal with prosecutors. Lichtenstein admitted to conspiracy to commit money laundering, while Morgan pleaded guilty to both money laundering conspiracy and conspiracy to defraud the United States. “Razzlekhan,” which also happens to be Morgan’s alias as a comedic rapper, promises to offer a dramatized insight into their story.
This film project by Amazon MGM Studios is part of a growing trend in the entertainment industry to explore narratives surrounding figures in the cryptocurrency space. Notable examples include the speculated documentary on the downfall of FTX and its former CEO, Sam “SBF” Bankman-Fried, as well as the Netflix documentary on QuadrigaCX founder Gerald Cotten. These productions reflect the increasing public interest in the often dramatic and complex world of cryptocurrency.
In February 2022, two NFTs showcasing Razzlekhan mysteriously vanished from OpenSea’s NFT marketplace. These two missing NFTs were album covers for two of Morgan’s Razzlekhan music videos titled “Versace Bedouin” and “Social Distance.”
“Razzlekhan” is not just a story of a high-profile cybercrime but also a mirror of the volatile and intriguing nature of the crypto world. As the Bitfinex hack remains one of the most significant heists in cryptocurrency history, this movie is expected to shed light on the darker aspects of digital currency, its allure, and the risks associated wit