Bitfinex exchange Bitcoin hacking case protagonist is released early, posts thanking Trump's good governance

Netflix documentary Biggest Heist Ever reveals a couple who seem to live an absurd life but are actually connected to the global cryptocurrency history as the infamous duo thieves. In 2016, the Bitfinex exchange was hacked, and the two suspects, Ilya Lichtenstein and his wife, hip-hop artist Heather Morgan (stage name Razzlekhan), were able to operate remotely from New York while controlling the Bitfinex exchange in Hong Kong, stealing approximately 119,754 Bitcoins BTC. Now, with the benefit of a Trump pardon, Lichtenstein has been released early on parole. He posted on X thanking Trump, stating he will contribute to cybersecurity. This turn of events is more bizarre than any Hollywood movie, and the whistleblower in the documentary also pointed out that Lichtenstein’s father is a feared figure in the hacking community—perhaps his father is the real mastermind behind the scenes? Lichtenstein’s early release and thank you message to Trump have reignited discussions, bringing this strange case back into the spotlight.

Bitfinex exchange was hacked in 2016, stealing 119,754 Bitcoins

The Netflix documentary Biggest Heist Ever depicts the extravagant lifestyle of the couple in New York: they frequently post absurd videos on Instagram, from rap performances to bizarre selfies. They seem like just fringe social media creators obsessed with online fame, but in reality, they are closely linked to a cryptocurrency theft that shocked the global financial world, which took place in distant Hong Kong.

In August 2016, the cryptocurrency exchange Bitfinex was hacked, and about 119,754 Bitcoins were stolen, with a value of approximately $71 million at the time; today, that amount exceeds $10 billion, making it one of the largest Bitcoin thefts in history. The case remained unsolved for years until February 2022, when the U.S. Department of Justice arrested Lichtenstein and Morgan, revealing the full scope of this multi-year crime involving a complex money laundering network.

94,000 Bitcoins have been recovered by U.S. authorities

Lichtenstein admitted to hacking into the Bitfinex system and orchestrating long-term money laundering, converting some of the stolen Bitcoins into other cryptocurrencies and physical gold. According to investigations, about 94,000 Bitcoins have been recovered by U.S. authorities, while approximately 25,000 Bitcoins remain unaccounted for. In January 2025, U.S. prosecutors filed a motion to return the recovered Bitcoins to Bitfinex.

In November 2024, Lichtenstein was sentenced to five years in prison for conspiracy to commit money laundering. However, he was recently released early after serving only 14 months. He attributed this to the First Step Act signed by President Trump during his term.

Lichtenstein thanks Trump’s First Step Act

After his release, Lichtenstein posted on X expressing gratitude for the First Step Act signed by President Trump, which allowed him to regain his freedom early. He also declared his intention to actively contribute to cybersecurity in the future. He thanked his supporters and boldly stated he will prove his critics wrong.

The First Step Act, signed by Trump in 2018, is a prison and sentencing reform law aimed at reducing the sentences of non-violent offenders, lowering recidivism, and saving costs for taxpayers. The law allows some inmates to be released early for good behavior or if they meet certain conditions. Lichtenstein was one of the beneficiaries.

However, his early release has sparked controversy within the cryptocurrency community. Some congratulated him on regaining freedom on social media, while others criticized harshly. An on-chain investigator posted a satirical meme on X saying “Crime is legal.”

Morgan was arrested in 2022 along with her husband and sentenced to 18 months in prison, serving about 8 months, and was released in October 2024. Lichtenstein repeatedly emphasized that his wife was not involved in the hacking, only in subsequent financial transactions.

Lichtenstein’s release coincided with Trump exercising his pardon powers in several cryptocurrency-related cases, which has been highly controversial. Although Lichtenstein himself was not pardoned, Trump pardoned others such as the Silk Road founder Uli Ubricht, co-founder of BitMEX, and Binance founder Changpeng Zhao (CZ), leading to questions about whether the U.S. justice system is too lenient on crypto crimes. From the absurd daily life shown in Netflix to the century’s biggest theft shaking the global financial order, the Bitfinex hacker case reflects the bizarre phenomena in the crypto world and prompts deep reflections on justice, ethics, and power.

The documentary Biggest Heist Ever is titled “The Ultimate Crypto Scam: Hacker Couple” in Hong Kong Netflix, and “The Greatest Money Laundering Heist: Crypto Couple Thieves” in Taiwan. It is still available to watch. For those interested in this case, this documentary offers a glimpse into the double life of this hacker couple as they navigate between reality and crime.