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Hackers who stole millions were caught in luxury.
This week, two suspects were arrested in Miami accused of conspiracy to steal and launder more than $230 million in cryptocurrency using cryptocurrency exchanges and mixing services. We are talking about 20-year-old Malone Lam, known by the pseudonyms "Greavys", "Anne Hathaway" and "$$$", and 21-year-old Jandiel Serrano, also known as "Box", "VersaceGod" and "@SkidStar". Both defendants were detained by FBI agents on Wednesday evening and appeared in court the next day.
According to the case file, on August 18, Lam, Serrano and their accomplices carried out a successful attack in which they stole more than 4,100 bitcoins from a victim in Washington, D.C. At that time, the value of the stolen assets exceeded $230 million. According to the investigation, the attackers gained unauthorized access to the victims' crypto accounts and transferred funds to their crypto wallets, and then laundered the stolen assets.
To conceal their activities, the suspects used a combination of methods: cryptocurrency mixers, exchanges, transaction chains, and pass-through wallets. Virtual private networks (VPNs) were also used to hide their identities and location. These schemes allowed fraudsters to operate undetected until they were betrayed by operational security bugs and numerous high-value purchases.
The investigation found that the stolen cryptocurrency was used to finance the suspects' luxurious lifestyle. They spent money on international trips, expensive cars, luxury watches, designer bags, and entertainment in nightclubs in Los Angeles and Miami.
An investigation conducted by cryptocurrency fraud specialist ZachXBT has helped identify a third alleged participant in the scheme, known by the pseudonym "Wiz". A group of scammers, according to the expert, used fake phone numbers and pretended to be employees of Google and the support service of the Gemini cryptocurrency exchange to gain access to the victims' accounts. In one case, they persuaded the victim to reset their two-factor authentication and hand over control of their screen through the AnyDesk remote access app, which allowed them to steal private keys and steal funds from crypto wallets.
According to ZachXBT, initial tracking revealed that the stolen $243 million was divided among members of the group and then transferred through more than 15 exchanges. The funds were converted between various cryptocurrencies, including Bitcoin, Litecoin, Ethereum, and Monero, making them difficult to trace.
Despite the measures taken to cover their tracks, investigators have discovered that a cluster of Ethereum addresses associated with Serrano and Wiz has received more than $41 million from two cryptocurrency exchanges in recent weeks. Money laundering mistakes, including careless screen use during one of the operations in which Wiz accidentally revealed his real name, led to his exposure.
Investigators also found that a significant part of the funds was converted to Monero to increase anonymity, but errors in transactions made it possible to link the laundered funds to the originally stolen amounts. This helped investigators track down the suspects, which eventually led to the arrests.
The FBI was able to apprehend Lam and Serrano thanks to an analysis of their wasteful spending and social media activity, where their friends accidentally revealed their locations in Los Angeles and Miami. The case continues to be investigated, and law enforcement agencies do not rule out the possibility of further arrests.
Source
This week, two suspects were arrested in Miami accused of conspiracy to steal and launder more than $230 million in cryptocurrency using cryptocurrency exchanges and mixing services. We are talking about 20-year-old Malone Lam, known by the pseudonyms "Greavys", "Anne Hathaway" and "$$$", and 21-year-old Jandiel Serrano, also known as "Box", "VersaceGod" and "@SkidStar". Both defendants were detained by FBI agents on Wednesday evening and appeared in court the next day.
According to the case file, on August 18, Lam, Serrano and their accomplices carried out a successful attack in which they stole more than 4,100 bitcoins from a victim in Washington, D.C. At that time, the value of the stolen assets exceeded $230 million. According to the investigation, the attackers gained unauthorized access to the victims' crypto accounts and transferred funds to their crypto wallets, and then laundered the stolen assets.
To conceal their activities, the suspects used a combination of methods: cryptocurrency mixers, exchanges, transaction chains, and pass-through wallets. Virtual private networks (VPNs) were also used to hide their identities and location. These schemes allowed fraudsters to operate undetected until they were betrayed by operational security bugs and numerous high-value purchases.
The investigation found that the stolen cryptocurrency was used to finance the suspects' luxurious lifestyle. They spent money on international trips, expensive cars, luxury watches, designer bags, and entertainment in nightclubs in Los Angeles and Miami.
An investigation conducted by cryptocurrency fraud specialist ZachXBT has helped identify a third alleged participant in the scheme, known by the pseudonym "Wiz". A group of scammers, according to the expert, used fake phone numbers and pretended to be employees of Google and the support service of the Gemini cryptocurrency exchange to gain access to the victims' accounts. In one case, they persuaded the victim to reset their two-factor authentication and hand over control of their screen through the AnyDesk remote access app, which allowed them to steal private keys and steal funds from crypto wallets.
According to ZachXBT, initial tracking revealed that the stolen $243 million was divided among members of the group and then transferred through more than 15 exchanges. The funds were converted between various cryptocurrencies, including Bitcoin, Litecoin, Ethereum, and Monero, making them difficult to trace.
Despite the measures taken to cover their tracks, investigators have discovered that a cluster of Ethereum addresses associated with Serrano and Wiz has received more than $41 million from two cryptocurrency exchanges in recent weeks. Money laundering mistakes, including careless screen use during one of the operations in which Wiz accidentally revealed his real name, led to his exposure.
Investigators also found that a significant part of the funds was converted to Monero to increase anonymity, but errors in transactions made it possible to link the laundered funds to the originally stolen amounts. This helped investigators track down the suspects, which eventually led to the arrests.
The FBI was able to apprehend Lam and Serrano thanks to an analysis of their wasteful spending and social media activity, where their friends accidentally revealed their locations in Los Angeles and Miami. The case continues to be investigated, and law enforcement agencies do not rule out the possibility of further arrests.
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