A suspected British hacker linked to one of the largest Bitcoin thefts ever recorded may have been detained in Dubai this Friday. Renowned on-chain investigator ZachXBT reported on his Telegram channel that Danish Zulfiqar, known online as “Danny,” appears to be in the custody of authorities. This revelation emerges after unusual fund movements were detected suggesting direct police intervention.
According to the technical data presented, approximately 18.58 million dollars in digital assets have suddenly consolidated into a single Ethereum wallet connected to the suspect. ZachXBT noted that several addresses previously linked to the alleged criminal funneled funds into this specific account, following a pattern commonly observed during police seizures. Furthermore, the investigator claimed that Zulfiqar resided in Dubai, where a raid on a villa was reportedly conducted.
On the other hand, close associates of the suspect have also kept a notable silence in recent days, reinforcing the theory of a coordinated operation. So far, neither Dubai police nor UAE authorities have issued official confirmation regarding arrests or seizures. However, the on-chain evidence presented offers solid indications that the hacker’s freedom has been compromised.
The Trail of the Genesis Theft
These events culminate months of investigation into the theft occurring on August 19, 2024, which involved the massive subtraction of 4,064 Bitcoin. ZachXBT made the case public in September, detailing how attackers used advanced social engineering by posing as Google technical support. By convincing the victim to reset their two-factor authentication, they managed to drain the wallet and launder the assets.
The attack was not limited to a simple digital intrusion but involved the use of remote access software to control the victim’s accounts. The stolen funds, valued at 243 million dollars at the time, moved through a complex web of exchanges to obfuscate their origin. This level of sophistication made initial tracking difficult, requiring deep forensic analysis to identify those responsible.
How does this affect security on the blockchain?
US authorities have already filed criminal charges against other suspects in the group, such as Malone Lam and Veer Chetal, accused of spending the money on luxuries. Moreover, ZachXBT has linked Zulfiqar to the Kroll SIM swap incident in August 2023, which exposed sensitive creditor data. This demonstrates how off-chain vulnerabilities affect asset integrity and market trust.
Likewise, this case underscores the persistent threat of social engineering attacks, which remain the most effective vector for compromising large capitals. International collaboration between law enforcement agencies and independent analysts is closing the net on these criminal groups operating transnationally. The potential recovery of assets sends an important deterrent signal to those attempting to exploit the digital asset ecosystem.
Although official confirmation remains pending, this development adds to a global wave of effective police actions against high-profile crypto crime. Recent cases in Thailand and the UK evidence international tightening, just as ZachXBT frequently reports in his investigations. It is expected that in the coming days verifications will emerge confirming if this chapter of the Genesis theft has closed.
