Economy

Eugene

(62,657 posts) Thu Aug 3, 2023, 02:14 PM Aug 2023

Razzlekhan and husband guilty of $4.5bn Bitcoin launder

Source: BBC

Razzlekhan and husband guilty of $4.5bn Bitcoin launder

3 August 2023

By Joe Tidy
Cyber correspondent

A husband and wife cyber-crime team have pleaded guilty to trying to launder $4.5bn (£3.5bn) of Bitcoin that he had stolen in a hack in 2016.

Heather Morgan and Ilya Lichtenstein were arrested last year in New York after police traced their riches back to the crypto heist.

While evading police, Morgan masqueraded as a rapper and tech entrepreneur.

As part of a plea deal, Lichtenstein admitted he was behind the hack.

The couple both pleaded guilty to money laundering, but Morgan pleaded guilty to an additional count of conspiracy to defraud the United States.

-snip-

Read more: https://www.bbc.com/news/technology-66390639

Heather Morgan posted highly-produced rap music videos under the moniker Razzlekhan

4 replies

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Razzlekhan and husband guilty of $4.5bn Bitcoin launder (Original Post) Eugene Aug 2023 OP

People paying out real money to buy untraceable fake money Warpy Aug 2023 #1

This is something that has always eluded me Tansy_Gold Aug 2023 #2

I read the business model Warpy Aug 2023 #3

Republicans' idea of "makers" peppertree Aug 2023 #4

Warpy

(113,130 posts)

1. People paying out real money to buy untraceable fake money

Reply to Eugene (Original post)

Thu Aug 3, 2023, 02:31 PM

Aug 2023

Now let me think, what could possibly go wrong?

Tansy_Gold

(18,054 posts)

2. This is something that has always eluded me

Reply to Warpy (Reply #1)

Thu Aug 3, 2023, 04:26 PM

Aug 2023

I guess greed makes some people . . . stupid?

Warpy

(113,130 posts)

3. I read the business model

Reply to Tansy_Gold (Reply #2)

Thu Aug 3, 2023, 04:43 PM

Aug 2023

Limited number of bitcoins issued, people would "invest" in ever shrinking fractions of a single bitcoin.

Conclusion: Ponzi scheme that in the short term would make the world safe for money laundering by drug cartels and kiddie porn pushers and other scum and oh, buy, I was right on both counts.

peppertree

(22,850 posts)

4. Republicans' idea of "makers"

Reply to Eugene (Original post)

Fri Aug 4, 2023, 05:52 PM

Aug 2023

They made money - and in a sociopathic, shameless way to boot.

What could be better!

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