You've seen the headlines, but let's breakdown the cryptocurrency laundering techniques they allegedly used in an attempt to launder billions of dollars worth of Bitcoin and the ridiculous errors they made that led to them getting caught.

Money laundering techniques they are accused of using: Peel chain technique, Chain Hopping, Layering, and more.

On February 8th, 2022, the United States Department of Justice announced that 34 year old “Dutch” Ilya Lichtenstein, and 31 year old Heather Morgan who goes by "RazzleKhan" on social media and even has her own catch phrase, were arrested in New York and charged with conspiring to launder $4.5 billion of stolen Bitcoin and conspiracy to defraud the United States.

Six years ago, 119,754 bitcoin was stolen from one of the biggest virtual currency exchanges in the world, Bitfinex. At the time, the value of those coins would have been about $72 million. As of the time I’m recording this video, one bitcoin is valued at $44,047 so the total number of coins stolen would have a current value of just under $5.3 billion. The government has seized $3.6 billion worth of cryptocurrency linked to that hack.

00:00 Intro
01:00 What are they charged with?
01:30 The Bitfinex hack of 2016
03:00 Who is this couple?
04:00 The Crocodile of Wall Street
05:40 How did they try to launder Bitcoin?
07:15 The "Peel Chain Technique"
08:00 Money laundering "Layering"
09:45 Tumbling strategy
11:14 Chain Hopping technique
12:35 Summing up how they got caught
13:05 Final Thoughts

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