$243 Million in Bitcoin Stolen — How One Crypto Crusader Tracked the Hackers

Crypto Seeker
May 24
2 min read

Handing out Birkin Bags like they were Smarties

In one of 2024’s most audacious crypto thefts, over $243 million worth of Bitcoin was siphoned from a single wallet — and almost no one noticed. That is, until ZachXBT, a pseudonymous on-chain investigator and digital detective, picked up the trail.

ZachXBT, who has gained notoriety for exposing crypto scams and rug pulls, first noticed suspicious Bitcoin movements that were broken into smaller transactions and routed through multiple exchanges and obfuscation tools like coin mixers. What followed was a masterclass in modern blockchain forensics.

By combining on-chain analytics, wallet monitoring, and surprisingly, social media bragging, ZachXBT traced the stolen funds to three key suspects. Two of them, Malone Lam and Jeandiel Serrano, both in their early 20s, were later arrested thanks to the mounting evidence gathered across platforms. They weren’t exactly lowkey — living the high life, driving supercars, and handing out Birkin Bags like they were Smarties.

Blockchain Doesn’t Lie

What makes this case fascinating is not just the amount stolen, but how it was traced.

Contrary to popular belief, blockchain transactions are not truly anonymous. Every movement is permanently recorded — but linking those wallet addresses to real-world identities requires deep investigative work across:

Exchange data and wallet patterns.
Obfuscated transactions using mixers like Tornado Cash.
Cross-referencing Discord and Telegram usernames
Leaked wallet screenshots on social media.
Timing patterns of trades and logins.

This case proves that to effectively track stolen crypto, you need more than blockchain analysis — you need human intelligence, pattern recognition, and digital forensics.

What This Means for Crypto Security

The $243M theft and the eventual unravelling of the operation underline a critical message:

Your crypto may be decentralised, but your digital footprint is not.

Criminals often underestimate how traceable they are when even the slightest mistake — a reused username, a careless tweet, a Discord ID — can crack open the entire operation.

This is why blockchain recovery experts, like Crypto Seeker and our partners, use a multidimensional approach to trace and recover funds:

On-chain analysis tools to follow the money trail
Metadata from wallets and exchanges
Digital profiling via social media platforms
Private threat intelligence networks
Collaborations with law enforcement and crypto platforms

How to Protect Yourself

With thefts now exceeding hundreds of millions in single events, crypto investors must upgrade their security game. Protecting your assets isn’t just about cold wallets anymore — it’s about being untraceable to scammers and unappealing to hackers.

Here are 3 key takeaways:

Use privacy tools but understand they don’t make you invisible.
Avoid oversharing on social media — especially wallet balances or NFT wins.
Have a recovery plan in place. If you’re ever compromised, speed matters.

Need Help Tracking Stolen Crypto?

At Crypto Seeker, we specialise in tracing lost or stolen digital assets using the same techniques seen in this case. Whether it’s a phishing attack, wallet exploit, or SIM swap, our team uses advanced blockchain forensics, OSINT techniques, and legal partnerships to help recover what’s yours.