Crypto Heist Investigated
Two people have been arrested following an investigation into a $243 million heist in which the accused thieves allegedly sought to pass thousands of bitcoin through mixing services, the U.S. Department of Justice said. The theft targeted a creditor of defunct trading firm Genesis after the victim was tricked into resetting their Gemini two-factor authentication settings and sending funds to a compromised wallet.
Funds Traced and Recovered
Transaction tracing analyzed by blockchain sleuth ZachXBT shows the $243 million was split across multiple wallets before being sent to over 15 exchanges. Investigators, including CFInvestigators, zeroshadow, and Binance Security, were able to freeze more than $9 million and return $500,000 to the victim.
Suspects Apprehended
Malone Lam, 20, a Singaporean citizen living in Miami and Los Angeles, and Jeandiel Serrano, 21, of Los Angeles, have been arrested and charged with conspiring to steal and launder the cryptocurrency. They were set to appear in separate federal courts in California and Florida on Thursday.
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