Plot
Ten years after the original heist, a trio of young magicians—Charlie, Bosco, and June—stage a fake Four Horsemen magic show via deepfakes and holograms, where they drain the wallet of the corrupt owner of a cryptocurrency exchange and distribute the stolen funds among the attendees. After the show, they are unexpectedly approached by J. Daniel Atlas, one of the original Horsemen, in their hideout, who recruits them in a plot apparently given to him by The Eye, the secret magic society, via a tarot card: to steal "The Heart", the largest diamond in the world. The diamond is in possession of Veronika Vanderberg, the head of a South African diamond company started by her father, a former Nazi who uses the business to launder money for criminals. Soon after, Vanderberg receives a call from an unknown man in a disguised voice, threatening her to expose her company's illegal activity in exchange for the diamond.
At a private party in Belgium where the diamond is being exibited and is set to be auctioned, Atlas and the three young magicians execute a heist through a combination of disguises, prop switching, and misdirection to seize the diamond from Vanderberg. Her security and police fails to pursue as Jack Wilder, Henley Reeves, and Merritt McKinney—the remaining members of the original Four Horsemen—arrive to assist them, explaining that they also received messages on Tarot cards from The Eye to assist with the plan. The Horsemen later revealed that there was a heist gone wrong that resulted in their leader, Dylan Shrike, arrested and held in a Russian prison, resulting in the group's split and disappearance to public for a decade.
The group travels to an estate somewhere in France, where after solving a puzzle and seeing various illusory rooms (including an Ames room, Relativity-esque stairs, and an Inception-style rotating corridor), they meet Thaddeus Bradley, the grandmaster of The Eye and former debunker, who also received a card telling him to assist the Horsemen. As they discuss their plans to expose Veronika, the police, acting on her orders, arrive to raid the estate. The group split up, using the illusory rooms to disorient and take down the police. Atlas, Henley, Bosco, and Charlie escape while Merritt, Jack, and June are captured by the police. While trying to escape, Thaddeus is shot in the chest, dying inside the escape tunnel.
Inside the police station, Vanderberg interrogates Merritt, who rattles her by deducing that she killed her mother and brother due to interpersonal issues. An unnerved Vanderberg exits the room and prepares to take June with her, when Lula May, another former Horsemen, disguised as a drunk elderly lady, breaks them out. Jack, June, and Lula escape amidst fights while Merritt is recaptured by Vanderberg.
The group, now reunited at a hideout, starts planning on how to rescue Merritt, as Vanderberg receives another call from the unknown voice, pressuring her to get the diamond back. Vanderberg and the Horsemen agree to arrange a meet in Abu Dhabi at the Yas Marina Circuit, where a party is being held for Vanderberg's Formula 1 team. During the swap, Bosco and Charlie create a distraction by stealing the F1 car on display at the party and driving off, starting a police chase, whilst The Horsemen, with Merritt, find themselves in a trap by Vanderberg. Vanderberg reveals she planned the meeting to trap them in a glass cube and plans to bury them alive as sand fills up the cube. Vanderberg leaves in a car to head to her vault in the desert to meet up with the unknown voice and give him the diamond. The Horsemen manage to escape by breaking a water pipe and breaks the glass.
Vanderberg arrives at her vault, takes a handgun from a guard, and gets into the elevator. Arriving in the vault, the unknown caller reveals himself to be Charlie, who is actually Veronika's long-lost brother, and that her mother saved him from the drowning orchestrated by her years ago. A tearful Veronika apologises and hands Charlie the diamond, but then attempts to shoot him. A seemingly dead Charlie moves as Veronika goes to grab the diamond, revealing a bullet caught in his teeth. Veronika attempts to shoot again, only for the bullets to be blanks. The walls of the vault open, revealing that Veronika is actually on the Horsemen stage with a live audience. It is revealed that the car Veronika got in was being driven by Charlie, that the security guard who she took the gun from was Bosco, and that the car drove into a fake sandstorm in the rear of a truck driven by June to fool Veronika into thinking she going to her vault, and that the elevator ride was actually the Horsemen rolling a box onto the stage.
Charlie reveals that he was the mastermind behind everything, orchestrating and planning every aspect of the heist over the decade, including getting the Horsemen together in the first place, and that every clue was created by him with the goal of getting back at Veronika. Authorities arrest Veronika, and Charlie, along with the other Horsemen, tell the crowd that every client of the Vanderberg company involved in illegal activity will be turned in, and that the proceeds of the diamond mining and The Heart itself will be given back to the people of South Africa.
Some time later, The Horsemen are gathering at Charlie, June, and Bosco's hideout, when a package arrives at the door. Upon opening it, a hologram of Dylan, apparently faking his imprisonment, reveals to them that there is more work to do.
