The world of cryptocurrency has seen its fair share of high-profile hacks and scams, but the recent $240 million theft orchestrated by a group of skilled cybercriminals stands out as a particularly brazen and sophisticated operation. Through a meticulously planned social engineering attack, the hackers known as Greavys, Wiz, and Box managed to siphon a staggering amount of digital assets from a single unsuspecting victim, leaving a trail of evidence that ultimately led to their downfall.
Targeting a Genesis Creditor
In mid-August, the cybercriminals set their sights on a creditor of the embattled cryptocurrency lending platform Genesis. Leveraging their technical prowess and social manipulation tactics, the hackers launched a multi-pronged assault that began with a seemingly innocuous phone call.
The Social Engineering Scheme
Posing as representatives from Google and Gemini support, the perpetrators managed to gain access to the victim’s personal accounts. Through a series of convincing lies, they convinced the victim that their Gemini account had been hacked, prompting the unsuspecting individual to reset their two-factor authentication (2FA) and transfer their funds to a compromised wallet.
The Breach and Theft
With the victim’s trust and credentials in hand, the hackers proceeded to take control of the victim’s Bitcoin (BTC) wallet, accessing the private keys through the remote desktop application AnyDesk. This allowed them to record their actions and celebrate their success as they transferred a staggering 4,064 BTC, worth approximately $257 million at the time, to their own wallets.
Tracking the Stolen Funds
The blockchain investigator ZachXBT, known for his meticulous work in uncovering crypto-related crimes, quickly set out to trace the movement of the stolen funds. His analysis revealed that the hackers had split the stolen assets across multiple exchanges, converting them into various cryptocurrencies, including Litecoin, Ethereum, and Monero, in an attempt to obfuscate the trail.
Identifying the Culprits
Through his forensic investigation, ZachXBT was able to link the distribution of the funds to the wallets of the three main perpetrators: Greavys, Wiz, and Box. Interestingly, the criminals’ own missteps played a crucial role in their downfall, as they inadvertently revealed their real identities during screen-sharing sessions.
Greavys: The Lavish Spender
Greavys, whose real name is Malone Lam, was identified as one of the key figures in the heist. He allegedly spent a significant portion of the stolen funds on luxury goods, including cars and Birkin bags for his associates. However, his careless actions, such as linking his “dirty funds” to centralized exchanges, ultimately exposed his involvement.
Wiz: The Elusive Mastermind
Wiz, identified as Veer Chetal, was believed to have received a large percentage of the stolen funds, with $34.5 million linked to his address. His involvement in the money laundering process was uncovered, leading to further scrutiny and the arrest of a fourth accomplice who assisted him in concealing the illicit gains.
Box: The Gemini Impostor
Box, whose real name is Jeandhil Serrano, played a crucial role in the scam by posing as a Gemini exchange representative and convincing the victim to transfer their funds to the hackers’ wallets. Like Greavys, Box also made the mistake of linking his “dirty funds” to centralized exchanges, leaving a digital trail that aided the investigation.
Arrests and Asset Seizures
The collaborative efforts of ZachXBT, law enforcement agencies, and the Binance security team led to the arrests of Box and Greavys in Miami and Los Angeles, respectively. Additionally, over $9 million in stolen funds have been frozen, and $500,000 has been returned to the victim, thanks to the swift action taken by the authorities.
The Importance of Vigilance
The $240 million crypto heist orchestrated by Greavys, Wiz, and Box serves as a stark reminder of the need for heightened vigilance in the digital asset space. As the cryptocurrency industry continues to evolve, it is crucial for investors and users to remain cautious and skeptical of unsolicited communications, particularly those claiming to be from reputable institutions or support services.
Conclusion
The $240 million crypto heist perpetrated by Greavys, Wiz, and Box serves as a sobering reminder of the dangers that lurk in the digital asset landscape. While the perpetrators’ downfall was ultimately sealed by their own missteps and the tireless efforts of dedicated investigators, this case underscores the need for continuous vigilance and the adoption of stringent security protocols to safeguard one’s digital wealth. As the cryptocurrency industry continues to evolve, the lessons learned from this incident will undoubtedly shape the future of the space, driving the development of more robust security measures and fostering a more secure environment for all participants.
Disclaimer:ย The information provided in this article is for informational purposes only and does not constitute financial advice. Investing in cryptocurrencies involves risks, and readers should conduct their own research and consult with financial advisors before making investment decisions.ย Hash Heraldย is not responsible for any profits or losses in the process.
