ZachXBT played a crucial role in unraveling the Genesis case through blockchain forensics, tracking stolen assets across various exchanges.
Greavys, also known as Malone Iam, Wiz also known as Veer Chetal, and Box also known as Jeandiel Serrano, were the three principals involved in the very sophisticated social engineering scam that took place on August 19, 2024.
During this period, the scheme involved a single Genesis creditor, who became the target of theft. In fact, blockchain investigator ZachXBT played a significant role in unraveling the Genesis theft, demonstrating the power of blockchain forensics in combating cryptocurrency criminals.
His in-depth investigation into the trail of stolen assets that went via a variety of exchanges and cryptocurrencies resulted in the discovery of crucial evidence that led to the arrest of Box in Miami and Greavys in Los Angeles.
Google, Gemini Impersonators Busted in Multi-Million Dollar Scam
In order to piece together the specifics of one of the most significant cryptocurrency thefts of the year, ZachXBT utilized blockchain analysis in conjunction with open source intelligence (OSINT) and relationships with security organizations.
His inquiry uncovered a sophisticated operation that took advantage of both technological shortcomings and the psychological vulnerabilities of individuals. The attackers first impersonated Google Support, then the Gemini exchange, which investors like for its regulatory compliance.
This allowed the attackers to finally gain access to the victim’s personal accounts and defeat two-factor authentication. Nevertheless, Wiz, also known as Veer Chetal, was the recipient of the largest portion of the stolen funds, this, in turn, led to the identification of a single Ethereum wallet that had $34.5 million.
ZachXBT was able to reveal Wiz’s identity as a result of a significant error that occurred during the screen-sharing session, in addition to the disclosure of audio recordings.
How a Crypto Thief’s Spending Spree in Genesis Heist Ended in Jail
Greavys, whose real name is Malone Iam, came to light due to his extravagant spending during the Genesis robbery, which included buying expensive cars and hosting parties. ZachXBT was able to trace $3.5 million of the unlawfully obtained funds to an Ethereum address that was associated with Greavys.
Jeandiel Serrano played Box, one of the individuals involved in the theft of assets worth $18 million. Box pretended to be Gemini’s representative. With ZachXBT’s assistance, he was able to locate a network of Ethereum addresses that were associated with both Box and Wiz.
This allowed him to trace transactions totaling more than $41 million to luxury item brokers. The hackers had quickly changed the assets into a variety of cryptocurrencies, including Bitcoin, Litecoin, Ethereum, and Monero.
With this process, they had also quickly laundered the funds over more than 15 different exchanges. ZachXBT’s collaboration with blockchain analytics businesses and security teams at exchanges resulted in the freezing of more than nine million dollars.
Additionally, the victim has already received $5,000. For example, the cryptocurrency community recently reacted negatively to healthcare company Cencora after receiving a cyber ransom payment in Bitcoin amounting to $75 million.
In March, an on-chain analyst revealed the specific Bitcoin transactions in three separate installments.
