Biggest Heist Ever: The Bitfinex Hack and Its Aftermath

Biggest Heist Ever is a Netflix documentary directed by Chris Smith about one of the strangest and most spectacular cryptocurrency cases in recent memory: the massive 2016 hack of crypto exchange Bitfinex, in which roughly 120,000 bitcoin were stolen, and the subsequent attempt to launder the proceeds. At the center of the story are Ilya Lichtenstein and Heather Morgan — a startup entrepreneur and an eccentric hipster rapper who, under the alias 'Razzlekhan,' posted music videos online while allegedly funneling billions of dollars in stolen crypto through a complex network of digital wallets and darknet services.

In 2016, Bitfinex suffered a sophisticated cyberattack that resulted in the theft of about 120,000 bitcoin, then worth roughly $72 million. As bitcoin's price surged in the following years, the market value of the stolen funds grew to over $4 billion by the time they were seized in 2022. The perpetrators moved the funds through the blockchain, using the darknet marketplace AlphaBay and numerous intermediary wallets to obscure the trail. The FBI and other federal authorities eventually mapped the transaction patterns using blockchain intelligence.

In February 2022, the FBI arrested Lichtenstein and Morgan at their Manhattan apartment, seizing crypto assets, cash, gold and fake passports. Lichtenstein pleaded guilty in August 2023 to conspiracy to commit money laundering and was sentenced on November 14, 2024, to 5 years in prison plus 3 years of supervised release. Morgan pleaded guilty to one count of money laundering conspiracy and one count of conspiracy to defraud the United States, receiving a lighter sentence of 18 months plus 3 years of supervised release on November 18, 2024, partly due to her cooperation. Neither was charged with carrying out the original Bitfinex hack itself.

The documentary, running 1 hour and 25 minutes, is directed by Chris Smith, known for Fyre: The Greatest Party That Never Happened. It includes interviews with investigators, former cybercriminals and acquaintances of the couple, and raises questions about national security implications. Neither Lichtenstein nor Morgan appears in the film, a gap noted by The Register as contributing to its mixed reception.

On IMDb, the film holds a 6.1 out of 10 rating, while Rotten Tomatoes lists a single critic review at 3.25 out of 5. The Register calls the reception 'mediocre,' while Pajiba describes it as 'the most absurd true crime story of 2024,' highlighting Morgan's public persona as especially compelling. The documentary premiered on December 6, 2024, shortly after both sentences were handed down. Who actually carried out the original 2016 hack remains unresolved.