British cybercriminal ’Danish Zulfiqar’ reportedly arrested in Dubai; $18.6M crypto seized
Blockchain investigator ZachXBT reports that British cybercriminal Danny, known as Danish Zulfiqar or Meech, was reportedly detained in Dubai after authorities raided a villa and allegedly seized about $18.58–18.7 million in cryptocurrency. Investigators say roughly 3,670 ETH were consolidated into address 0xb37d6…9f768 prior to the seizure — a pattern consistent with law-enforcement asset freezes. Danny is linked to major social‑engineering thefts, including an alleged August 2024 Genesis creditors hack (~$243M) and the August 2023 Kroll SIM‑swap operation that helped steal funds from victims tied to BlockFi, Genesis and FTX. Co‑conspirators Malone Lam and Jeandiel Serrano were previously indicted and arrested in the U.S. in 2024. Sources report several associates were detained during the Dubai raid, though official law‑enforcement confirmation of Danny’s arrest is pending. The case highlights ongoing risks from SIM‑swap and social‑engineering schemes and cross‑exchange laundering that convert funds across ETH, BTC, LTC and privacy coins. Traders should monitor the seized address and related wallets for on‑chain movements; exchange freezes, asset recoveries or further arrests could create short‑term volatility and liquidity changes in affected tokens and venues.
Neutral
The news is likely neutral for broader cryptocurrency prices but relevant for specific tokens and platforms. The seized funds (mostly ETH) and linked laundering pathways across BTC, ETH, LTC and privacy coins could cause short‑term volatility or reduced liquidity for those assets on certain exchanges if wallets are frozen or exchanges act on subpoenas. Traders may see transient price moves or order‑book thinning on venues that held or processed the tainted funds. However, the amount seized (~$18.6M) is small relative to overall market capitalisation, so market‑wide impact should be limited. Longer term, increased enforcement and asset‑recovery successes can improve trust and reduce criminal activity, which is constructive for institutional adoption and market integrity. For traders, the immediate signal is to monitor on‑chain flows from the seized address, watch exchange announcements, and avoid interacting with wallets tied to the case to reduce compliance or counterparty risk.