The Spy Who — Episode 1: The Spy Who Sold Codes and Cocaine | The Black Vault

Release Date: February 3, 2026
Hosts: Raza Jaffrey, Indira Varma

Overview

This debut episode of "The Spy Who" delves into the real-life story of Christopher Boyce and Dalton Lee—two young men whose journey from privileged Southern Californian upbringings to espionage and drug trafficking in the 1970s would shake the foundations of American intelligence. Through dramatized reconstructions and careful research, the episode unveils how Boyce and Lee's youthful rebellion, personal flaws, and opportunism led them to sell top-secret U.S. military codes to the Soviet Union—all while running a drug smuggling operation. Themes of distrust in authority, moral decay in the intelligence world, personal addiction, and betrayal are explored in this riveting narrative.

Key Discussion Points & Insights

1. Setting the Mood: The Shadowy World of Spies

• The episode opens with a tense scene in Mexico City (00:00), where Dalton Lee—struggling with heroin withdrawal—meets a Soviet handler alongside Christopher Boyce. It hints at Lee's double-crossing nature, conning both his KGB contacts and Boyce about payment for stolen secrets.
  • Quote: “He’s been taking advantage of his position as the courier of CIA secrets from Boyce to the KGB… squeezing more money out of the Soviets… and lying to Boyce.” (02:00)

2. The Unlikely Outsiders: Boyce and Lee’s Origins

• Flashbacks to the Mojave Desert (06:11) show Boyce and Lee as childhood friends: altar boys bonded by falconry and growing up in respectable, affluent families. Despite their clean appearances, both are experimenting with drugs and wrestling with their dissatisfaction with the U.S. government and its corruption.
  • Quote: “Yeah, they’ll lock you up, but they won’t touch the President who’s neck deep in conspiracy.” — Boyce (10:29)

3. Boyce’s Entry into U.S. Espionage

• Boyce scores a classified job at TRW’s Defense and Space Group, operating encryption machines for CIA spy satellites. He’s disillusioned by the duplicity of U.S. intelligence, especially when instructed to keep secrets from American allies like Australia.
  • Notable Moment: Boyce realizes the vault he works in contains secrets the Soviets would pay handsomely for — “For just one of those cipher codes… they’d probably pay 20 grand.” — Gene Norman (Colleague, 23:25)

4. Lee’s Descent into Drug Dealing

• Lee’s drug operation expands, using flights from Mexico to the U.S. to smuggle cocaine. He’s adept, yet one failed deal and a major bust (30:30) leave him desperate for cash—and open to Boyce’s proposition to sell secrets.

5. From Rebellion to Treason: The First Steps Toward Espionage

• Boyce, driven by a need to “stick it to the man,” sees leaking secrets as rebellion against government corruption but downplays the criminality. Lee is disinterested—until he realizes the payday. (37:10)
  • Quote: “We can finally do it, Dalton… Bring the bastards to their knees… They’ll pay $20,000 to $50,000 per trip.” — Boyce (37:30)
  • Lee's reaction upon realizing the sum: “Per trip?” (38:05)

6. The Botched Drug Sting and Lee’s Turning Point

• Lee’s bust by undercover cops (44:40) leaves him with a stark choice: become a police informant or flee and find funds. He chooses espionage and approaches Boyce for the first mission.

7. The First Espionage Exchange

• Instructions are set: Lee will go to the Soviet embassy in Mexico City, offering a sample of an NSA encryption card and seeking payment. The plan includes detailed operational secrecy, code phrases, and dead drop lingo—mimicking classic spycraft.
  • Quote: “Enclosed is a computer card from a National Security Agency crypto system. If you want to do business, please advise the courier.” — Letter from Boyce (48:10)
  • Soviet Handler (Okana): “We accept your proposition. We look forward to a mutually profitable enterprise.” (53:40)
  • Instructions for future meetings involve coded signals (“X” of tape on lamppost, restaurant phrases).

8. The Weight of Consequence and Paranoia

• After the handoff, Boyce is shaken by what they’ve done. A scene in the desert with his falcon captures his profound anxiety, regret, and angst about the world’s—and his own—corruption.
  • Quote: “What have I done? Fuck have I done?” — Boyce (1:02:55)
  • Monologue: “Why must he interfere? Isn’t that what’s wrong with the world—humans taking over, destroying all that’s wild and beautiful? Just like the CIA, interfering in countries...” (1:03:35)

9. Betrayal: Lee’s Final Deception

• Lee, emboldened by the ease of the spy game and cash from the Soviets ($3,000 for ten more codes), decides to skim extra for himself, cheating both the KGB and Boyce to fund his drug empire.
  • Quote: “Boyce has no way of knowing how much money the Russians gave him. So what if he lies to Boyce and takes the lion’s share for himself?” (1:09:30)

Notable Quotes & Memorable Moments

• “Spying is way easier than drug dealing.” — Lee (1:00:10)
• “We used computers to encrypt all our messages so they can’t be read. And that is where you come in, son.” — Boyce’s boss at TRW (14:30)
• “The only weapon I have against their power hungry corruption that is destroying the world.” — Boyce (1:06:10)
• “The pair shake hands, and as he leaves, Lee feels like James Bond. He’s got code words and secret signals and everything.” (56:20)

Timestamps for Key Segments

• 00:00–02:00 — Mexico City drug and KGB handoff
• 06:11–10:29 — Boyce and Lee’s background, setting up their friendship and philosophies
• 14:30–23:25 — Boyce’s induction into the Black Vault and the secrets of U.S. spy satellites
• 30:30–32:00 — Lee’s drug smuggling exploits, raid, and arrest
• 37:10–38:05 — Boyce pitches espionage to Lee; Lee’s initial reluctance turns
• 44:40–47:50 — Lee’s arrest, plea deal negotiations, and plan to escape to Mexico
• 48:10–56:20 — Lee’s first contact at the Soviet embassy; operational details
• 1:02:55–1:06:10 — Boyce’s moral crisis in the desert
• 1:09:30–1:10:25 — Lee’s deception; planning to rip off both Boyce and the Soviets

Tone & Style

The narrative blends cynicism, paranoia, and youthful idealism gone awry. There’s dark humor especially in Lee’s bravado and hustler attitude, and deep self-doubt and alienation in Boyce’s internal monologues. The dramatizations bring an immersive, pulpy flavor to very real spy history, while the hosts maintain an authoritative but atmospheric tone.

Summary

"The Spy Who Sold Codes and Cocaine" unpacks the beginnings of an unlikely spy saga—how disaffection and greed in post-Watergate America led two young men from falconry and drug parties to espionage against their own country. Through immersive storytelling, the episode reveals not just a tale of secret codes and smuggling, but the psychological unraveling, betrayals, and the morally murky world of Cold War espionage.

Recommended for listeners interested in true spy tales, American history, and the messy intersection of idealism, addiction, and treachery.