British Hacker Believed to Be Arrested in $243M Genesis Theft Case in Dubai

Summary: A British hacker connected to one of the largest Bitcoin thefts ever recorded might have been apprehended in Dubai, according to on-chain investigator ZachXBT. This incident involves a theft amounting to approximately $243 million, with some stolen assets reportedly seized.

Key Takeaways

Suspected Arrest: Danish Zulfiqar, the suspect known as "Danny" or "Meech," is believed to have been detained in Dubai.
Seized Assets: An Ethereum wallet linked to Zulfiqar contains around $18.58 million in digital assets.
Ongoing Investigation: The theft involved a coordinated social engineering scheme, leading to the loss of 4,064 Bitcoin from a Genesis creditor.
Legal Developments: U.S. authorities have filed charges related to crypto fraud schemes, highlighting a rise in global crypto crime investigations.

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

Investigation Reveals Possible Arrest of Hacker in Dubai

A suspected British hacker connected to one of the largest single Bitcoin thefts may have been arrested in Dubai, according to recent statements from on-chain investigator ZachXBT. On December 5, ZachXBT shared on his Telegram channel that a man identified online as “Danny” or “Meech,” who is known as Danish Zulfiqar, seems to have been taken into custody by local authorities, along with part of the stolen cryptocurrency.

Ethereum wallet connection to hacker

ZachXBT pointed out that an Ethereum wallet believed to be associated with Zulfiqar contains approximately $18.58 million in digital assets. He observed several wallets linked to the alleged hacker that directed funds to this same address, which is a pattern often seen in law enforcement seizures. The last known location of Zulfiqar was Dubai, where reports indicated a villa was searched.

Silence from Authorities Amid Arrest Claims

Despite these claims, there has yet to be any official confirmation from the Dubai Police or UAE authorities concerning an arrest, asset seizure, or raid in connection to this case. Local media outlets in the area have also not verified the reports.

This potential arrest comes after months of investigation into the August 19, 2024, theft of 4,064 Bitcoin, worth approximately $243 million at the time. The Bitcoin was taken from a single Genesis creditor through the Gemini exchange. ZachXBT made the case public in September, asserting that this theft was executed through a sophisticated social engineering attack.

The attacker manipulated the victim into resetting their two-factor authentication by impersonating Google support staff. Following that, they gained remote access to the victim's account. After extracting private keys, the hackers drained the wallet and moved the Bitcoin through various exchanges and swap services to launder the stolen funds.

ZachXBT initially linked the attack to three online aliases — “Greavys,” “Wiz,” and “Box” — later identifying the individuals behind those names as Malone Lam, Veer Chetal, and Jeandiel Serrano. He has shared his findings with relevant law enforcement agencies.

Broader Implications in Crypto Crime Probes

Following these investigations, U.S. prosecutors have filed criminal cases related to associated activities. In September 2024, the Department of Justice charged two individuals in a $230 million crypto fraud operation. Broader racketeering charges later detailed a scheme totaling over $263 million, which included the Genesis-linked Bitcoin theft. Court documents described a complex mix of SIM swapping, social engineering, and even physical burglaries.

Prosecutors highlighted that the stolen funds were used for luxury items such as high-end cars and nightlife expenses. One of the defendants, Veer Chetal, faced accusations of an additional $2 million crypto theft while released on bail.

ZachXBT has also linked Zulfiqar to an August 2023 incident involving a Kroll SIM swap that compromised the personal data of creditors related to BlockFi, Genesis, and FTX. This breach contributed to over $300 million in further cryptocurrency thefts due to follow-up phishing and impersonation scams.

The situation in Dubai reflects a broader trend of increasing law enforcement action against cryptocurrency-related crimes worldwide. In October, Thai authorities arrested Liang Ai-Bing in Bangkok over a claimed $31 million Ponzi scheme previously uncovered by ZachXBT. Meanwhile, in the UK, authorities achieved a guilty plea from Zhimin Qian in a case involving what is recognized as the largest crypto seizure to date, totaling over $6.7 billion in Bitcoin.

Outside of investigative efforts, ZachXBT has remained engaged in public disputes, including a notable exchange with UFC fighter Conor McGregor regarding Khabib Nurmagomedov’s NFT project, which highlighted McGregor’s own unsuccessful meme coin venture earlier this year.