Blockchain Expert ZachXBT Helps Arrest 3 Hackers Who Stole $240M from Genesis Creditors

Blockchain Expert ZachXBT Helps Arrest 3 Hackers Who Stole $240M from Genesis Creditors

In a recent Twitter announcement, blockchain security expert ZachXBT revealed that he worked with law enforcement to apprehend three hackers linked to a Genesis creditor theft. The suspects are accused of stealing approximately $243 million in funds, primarily comprised of 4064 BTC, valued at $240 million at the time of the attack in August 2022. Upon executing the scheme, the stolen funds were distributed across multiple exchanges. "The targets were SIM-swapped after receiving calls from the fraudsters," ZachXBT explained. "As a result, the funds were immediately transferred to 15+ exchanges." As part of the ongoing investigation, authorities have seized over $9 million, including $500,000 that has already been returned to the affected creditors. The remaining funds are subject to further recovery efforts. ZachXBT's involvement highlights the expertise and collaboration between law enforcement and blockchain security professionals. Their joint efforts ensure that crypto-related crimes are investigated thoroughly and perpetrators are held accountable. The successful arrest and fund recovery demonstrate the growing awareness and ability to combat such malicious activities within the crypto industry.