Today, Explained Bitcoin Bonnie and Clyde
Feb 17, 2022
Devlin Barrett, an FBI and Justice Department reporter for The Washington Post, dives into the jaw-dropping story of a tech investor and his rapper wife linked to a $4.5 billion Bitcoin heist. They struggled to spend the stolen fortune due to Bitcoin's traceability. Barrett discusses the historic seizure of $3.6 billion in cryptocurrency and the irony of their failed criminal scheme. The podcast also highlights law enforcement's innovative methods in tackling crypto crime and the absurdity of a heist that ended in bizarre decisions.
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Bitcoin Bonnie and Clyde
- Ilya Lichtenstein and Heather Morgan, a tech entrepreneur and aspiring rapper, were arrested for laundering $4.5 billion in Bitcoin.
- This is the largest seizure in DOJ history, exceeding even Madoff's, yet they remain relatively unknown.
From Millions to Billions
- While not accused of the initial theft, the couple allegedly controlled the stolen Bitcoin from the 2016 Bitfinex hack.
- The value surged from $71 million to $4.5 billion due to Bitcoin's price increase, with $3.6 billion seized.
Modest Spending
- Despite having access to billions, the couple's spending was surprisingly modest.
- Purchases included a $500 Walmart gift card, PlayStation items, and Uber rides.