Wallace Costa da Silveira was born on August 26, 1993, in Brazil. From an early age, he demonstrated a strong affinity for sports, particularly martial arts. Initially training and competing in judo during childhood, he later explored muay Thai with aspirations of competition. However, parental restrictions tied to academic performance eventually diminished his interest. In 2014, at the relatively late age of 21, Wallace discovered Brazilian Jiu-Jitsu through friends who trained at a local grappling club under coach Manuel, marking the beginning of his dedicated journey in the gentle art.

Wallace Costa earned his blue belt at his initial academy under coach Manuel. However, due to Manuel's increasingly busy schedule, classes were eventually suspended. Determined to continue his progression, Wallace transitioned to training under Gabriel Marinho at a Grappling Fight Team (GFT) affiliate gym in Rio de Janeiro. Under Marinho's guidance, Wallace rapidly advanced through the ranks, showcasing exceptional dedication and talent. In October 2020, just six years after beginning his jiu-jitsu journey, he received his black belt from Gabriel Marinho.

In 2019, Wallace faced a severe health crisis when a bacterial infection in his knee spread into his bloodstream, becoming life-threatening. This setback occurred only five days before the 2019 IBJJF World Championship, forcing him to withdraw from competing for his second world title at purple belt. After several weeks of intensive recovery, Wallace returned to competition with renewed determination, achieving significant results and demonstrating remarkable resilience.

Wallace Costa quickly established himself as a dominant competitor in the South American heavyweight jiu-jitsu scene. He secured consecutive victories at the IBJJF South American Championship, first as a brown belt in 2019 and then as a black belt in 2020, capturing gold in both his weight class and the open class divisions. Costa's aggressive pressure-passing style and relentless top game consistently overwhelmed opponents, solidifying his reputation as one of the region's premier ultra-heavyweight athletes.

Throughout his competitive career, Wallace Costa has tested himself against some of the world's elite black belts. At the 2021 IBJJF World Jiu-Jitsu Championship, he notably defeated seasoned competitor Dimitrius Souza in the absolute division via referee's decision, before ultimately falling to division champion Kaynan Duarte. Additionally, at the 2021 Brazilian National Championship (Brasileiro), Costa advanced past veteran Igor Schneider in the semifinals, earning a silver medal and further cementing his status among Brazil's top heavyweight competitors.

Wallace Costa is widely recognized for his aggressive and relentless pressure-passing style, earning him the nickname "Tubarão" (Portuguese for "Shark") among teammates. His crushing top game, characterized by precise weight distribution and strategic pressure, consistently breaks down opponents' defenses. Costa's physicality, intensity, and technical precision make him a formidable competitor, particularly in the ultra-heavyweight division.

Based in Florianópolis, Wallace Costa represents Grappling Fight Team (GFT) in Brazil's southern region. Beyond his competitive achievements, he actively embraces a leadership role within the team, organizing training camps, conducting seminars, and mentoring younger athletes. Costa continues to compete internationally, including participation in ADCC Trials, aiming for an invitation to the prestigious ADCC World Championship. His contributions significantly impact the growth and development of Brazilian Jiu-Jitsu in the region.