Cryptocurrency Thefts: Joint Operation Leads to Arrest of Suspect

John Daghita, a man accused of stealing tens of millions of dollars in cryptocurrency from US government wallets, has been arrested in a joint operation between the French Gendarmerie and the FBI.

The arrest marks a significant development in an investigation that began with the observation of suspicious transactions during a Telegram 'band-for-band' exchange. Blockchain investigator ZachXBT identified a participant using the name 'Lick' who publicly screen-shared wallet balances and transactions, allowing the investigator to capture wallet addresses and trace their transaction history on-chain.

The stolen funds were linked to cryptocurrency previously seized by US authorities in connection with the 2016 Bitfinex hack. Approximately $25 million of those seized assets were reportedly moved during the theft incident in 2024, although a significant portion was later returned following FBI outreach. The remaining stolen assets are still unrecovered.

Despite attempts to conceal the funds through mixers and cross-chain transfers, investigators were able to reconstruct transaction flows using blockchain intelligence techniques. This case highlights the importance of collaboration between law enforcement agencies, independent blockchain investigators, and analytics platforms in identifying illicit activity and recovering stolen cryptocurrency.