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ZachXBT: British Hacker Linked to $243M Genesis Theft Likely Nabbed in Dubai

A suspected British hacker linked to one of many largest single Bitcoin thefts ever recorded might have been detained in Dubai, in accordance to claims made Friday by on-chain investigator ZachXBT.

In a submit shared on his Telegram channel on December 5, ZachXBT stated a person recognized on-line as “Danny” or “Meech,” recognized as Danish Zulfiqar, seems to have been taken into custody by authorities, with a portion of the stolen crypto allegedly seized.

Source: ZachXBT

He pointed to roughly $18.58 million in digital belongings now held in a single Ethereum pockets that he says is linked to the suspect.

ZachXBT famous that a number of wallets beforehand tied to the alleged hacker had funneled funds into the identical deal with in a sample generally seen throughout legislation enforcement seizures.

He additionally claimed Zulfiqar was final recognized to be in Dubai, the place a villa was reportedly raided.

Authorities Silent as Reports Surface of Possible Arrest in $243M Bitcoin Hack

According to the investigator, others linked to the suspect have additionally gone silent in current days.

So far, there was no official affirmation from Dubai Police or UAE authorities concerning any arrest, asset seizure, or raid linked to the case.

Local media retailers in the area have additionally not verified the claims.

The potential arrest follows months of investigation into the August 19, 2024, theft of 4,064 Bitcoin, value about $243 million on the time. The funds had been taken from a single Genesis creditor who accessed belongings by Gemini.

ZachXBT made the case public in September, alleging the theft was carried out by a coordinated social engineering assault.

According to his findings, the attackers posed as Google assist employees and satisfied the sufferer to reset two-factor authentication.

They then used distant entry software program to take management of the account. After extracting the personal keys, the attackers drained the pockets and moved the Bitcoin by an internet of exchanges and swap companies in an try to launder the funds.

ZachXBT initially tied the assault to three on-line aliases, “Greavys,” “Wiz,” and “Box”, later naming Malone Lam, Veer Chetal, and Jeandiel Serrano because the individuals behind these accounts.

He stated his findings had been shared with legislation enforcement authorities.

U.S. Charges, UK Guilty Plea, Thailand Arrest Mark New Phase of Crypto Crime Probes

U.S. prosecutors later filed legal instances linked to associated exercise. In September 2024, the Department of Justice charged two suspects in a $230 million crypto fraud scheme.

Broader racketeering costs later described an operation totaling greater than $263 million, together with the Genesis-linked Bitcoin theft. Court paperwork outlined a mixture of SIM swaps, social engineering ways, and even bodily burglaries.

Prosecutors stated the stolen funds had been spent on high-end automobiles, journey, and nightlife. One of the defendants, Veer Chetal, was later accused of finishing up one other $2 million crypto theft whereas out on bond.

ZachXBT has additionally linked Zulfiqar to the August 2023 Kroll SIM swap incident, which uncovered the private information of collectors tied to BlockFi, Genesis, and FTX.

That breach later performed a job in greater than $300 million value of crypto thefts by follow-up phishing and impersonation schemes.

The reported Dubai growth comes as crypto-related legislation enforcement exercise continues to decide up worldwide.

In October, Thai authorities arrested Liang Ai-Bing in Bangkok over an alleged $31 million crypto Ponzi scheme that ZachXBT had beforehand uncovered.

In the UK, authorities recently secured a guilty plea from Zhimin Qian in a case tied to what officers described as the biggest crypto seizure in historical past, involving greater than $6.7 billion in Bitcoin.

Outside of investigations, ZachXBT has additionally remained energetic in public disputes.

In November, he clashed with UFC fighter Conor McGregor over comments about Khabib Nurmagomedov’s NFT venture, redirecting consideration to McGregor’s personal failed meme coin enterprise earlier this 12 months.

The submit ZachXBT: British Hacker Linked to $243M Genesis Theft Likely Nabbed in Dubai appeared first on Cryptonews.

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