NAIROBI, Kenya- In a case that reads like a viral TikTok saga, Ilya Lichtenstein and his wife, Heather Morgan, masterminded one of the largest cryptocurrency thefts in history.
It all started with a 2016 hack of the Bitfinex exchange, where nearly 120,000 bitcoins were stolen.
At the time, those bitcoins were worth $70 million. Fast forward a few years, and their value skyrocketed to a jaw-dropping $4.5 billion.
Now, Morgan, also known as her rap alter ego “Razzlekhan,” is preparing to face her sentencing.
Lichtenstein, a Russian-born hacker raised in the U.S., used cutting-edge techniques to infiltrate Bitfinex.
Once the heist was complete, he turned to his wife for help laundering the massive haul. Together, they created a network of fictitious identities, moved funds between cryptocurrencies, and even purchased gold coins to muddy the trail.
Prosecutors revealed that Lichtenstein and Morgan went to great lengths to hide their tracks. Family trips doubled as opportunities to hand off laundered money to couriers, while the couple’s online personas kept up appearances.
While the stolen bitcoin grew in value, Morgan was busy cultivating her public image. Under the alias “Razzlekhan,” she flooded social media with brash, profanity-laden rap videos, self-styling as the “Crocodile of Wall Street.”
Her lyrics boasted about being a “bad-ass money maker,” which, in hindsight, was a little on the nose.
Morgan also dabbled in thought leadership, publishing articles in Forbes where she claimed to be an economist and serial entrepreneur.
She described herself as an investor and rapper, curating an image far removed from her secret life. Her audacious persona went viral after the couple’s arrest in February 2022, a detail that added a bizarre twist to their already sensational story.
Lichtenstein, who has been in prison since his arrest, expressed regret for his actions during his guilty plea last year.
In court, he hinted at a desire to use his skills to fight cybercrime after serving his sentence. Meanwhile, Morgan, who also pleaded guilty to conspiracy to commit money laundering, is set to learn her fate on November 18.
As cryptocurrency becomes more mainstream, this story highlights the lengths some will go to exploit its vulnerabilities. For now, though, the saga of the “Crocodile of Wall Street” is a cautionary tale—and a viral sensation—wrapped in one.
