Blockchain investigator ZachXBT has successfully recovered the majority of funds from the sale of a stolen DeGods non-fungible token (NFT) after a thorough nine-month investigation. The NFT, initially sold in May 2023 for 99 Ethereum (ETH), equivalent to approximately $177,000 at the time, was the target of a phishing scam.
ZachXBT recovery of stolen NFT funds
ZachXBT, a pseudonymous on-chain researcher with a substantial following of over 505,200 individuals, recently announced the positive outcome of his extensive probe. Through meticulous tracking of funds and analysis of phishing schemes, ZachXBT managed to return most of the proceeds from the stolen NFT sale back to the victim. The recovery marks a significant success in the fight against crypto-related crimes.
ZachXBT answers victim’s cry for help
The investigation was initiated when the victim, realizing the drain on his wallet due to the phishing scam, reached out to ZachXBT for help in May 2023. Known for his expertise in blockchain forensics, ZachXBT received the victim’s request and promptly commenced his efforts to trace and retrieve the stolen funds.
Over the following months, ZachXBT diligently pursued leads and utilized various analytical tools to unravel the complex web of transactions associated with the theft.
Methodology and success stories
ZachXBT’s approach to investigating crypto crimes involves employing straightforward diagrams to elucidate the intricacies of phishing scams and meticulously tracing the movement of funds, even through crypto mixers.
Through his transparent communication with followers, ZachXBT shares insights into his investigative process, underscoring the potential for successful recovery efforts despite the challenges posed by such crimes.
He emphasizes that while the recovery process can be time-consuming, positive outcomes are achievable with persistence and expertise.
Conclusion of pro bono work
Despite his track record of successful recoveries and contributions to the crypto community, ZachXBT recently announced his intention to conclude his pro bono blockchain investigation work. Citing frustration from some users who expected assistance in recovering their stolen crypto despite his explicit offer of free services, ZachXBT expressed disillusionment with the lack of appreciation for his voluntary efforts.
This decision underscores the challenges faced by individuals offering assistance in the crypto space, particularly in managing expectations and balancing workload with available resources.
Contributions to the crypto community
ZachXBT’s expertise extends beyond individual cases of theft, as he has also provided invaluable assistance to national authorities in deciphering crypto-related crimes. Notably, Christophe Durand, the deputy chief of France’s national cyber unit, acknowledged ZachXBT‘s pivotal role in aiding investigations and shedding light on illicit activities within the crypto sphere. His contributions have helped enhance understanding and enforcement efforts in combating cybercrime on a broader scale.
