Veer Chetal (Wiz) Arrested ​​in $243M Genesis Attack: ZachXBT Reports

Blockchain investigator ZachXBT, who tracked the stolen Genesis funds from September 2024, shared an update on social media.

According to ZachXBT, Wiz is the third suspect in the case. Along with Greavys (Malone Iam) and Box (Jeandiel Serrano), he used social engineering tactics to steal 4,100 Bitcoins (worth over $243 million at the time) from a single creditor on August 19, 2024.

Using spoofed numbers, the attackers posed as Google and Gemini support employees, claiming the victim’s account had been hacked. They tricked the victim into resetting two-factor authentication (2FA), allowing them to transfer Gemini funds to a compromised wallet.

They then convinced the victim to share their screen, exposing private keys from Bitcoin Core – an open-source software used to interact with the Bitcoin network and store Bitcoins.

Crypto Theft Investigation and Arrests

ZachXBT traced the stolen crypto and found that it was split among three attackers, with Wiz receiving a large percentage. His identity was uncovered through screenshare recordings and chat messages where he revealed his full name.

In the comments, ZachXBT noted that Veer had poor operational security (opsec), meaning he failed to take necessary precautions to protect sensitive information. This lapse allowed investigators to access crucial chat data.

His associate, Light/Dark (Aakaash), helped launder the stolen funds through crypto exchanges eXch and Thorswap. He also revealed his identity during the screenshare.

Using this information, CFInvestigators, zeroshadow, ZachXBT, and Binance Security managed to freeze over $9 million, recovering $500,000 for the victim.

Greavys (Malone Lam), 20, and Box (Jeandiel Serrano), 21, were arrested in September 2024 in Miami. Both face charges of crypto theft conspiracy and money laundering.

Recent reports indicate that Lam, a student from Singapore, could face up to 20 years in prison. Before his arrest, he reportedly spent millions on luxury cars, mansion rentals, parties, and lavish gifts.

Lam is currently being held in a Virginia prison. His lawyer, Scott Armstrong, stated that his trial might take place in October 2025.

The Genesis heist shows the growing sophistication of crypto-related cybercrimes and the challenges in securing digital assets. However, it also demonstrates the effectiveness of blockchain forensics and collaborative efforts between investigators and security teams in tracking down criminals.