Blockchain Investigator ZachXBT Recovers Most of the Stolen DeGods Funds Worth $177,000
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Pseudonymous blockchain investigator ZachXBT has successfully recovered most of the funds from the sale of a rare non-fungible token (NFT) from DeGods.
The NFT was stolen in May 2023 after the original owner fell victim to a phishing scam.
In a recent post on the stolen NFT, which was sold in May 2023 for 99 Ether, which was equivalent to about $177,000 at the time, has now been returned to its rightful owner.
“I am pleased to announce that I was able to help recover a significant portion of the stolen funds, which have now been returned to the victim,” he announced.
How ZachXBT recovered stolen funds
ZachXBT’s investigations may take varying lengths of time depending on the complexity of the case.
He often uses visual aids such as diagrams to illustrate the mechanics of phishing scams and track the movement of funds, even if they were laundered through crypto mixers.
“Although recovery can be a lengthy process, it does happen and I am always happy to share these success stories,” explained ZachXBT.
However, the renowned blockchain investigator also shared his intention to complete his volunteer work in the field of blockchain investigations soon.
This decision is in response to the frustration of some of X’s users who expected that it would also help recover their stolen cryptocurrencies.
Although ZachXBT repeatedly emphasized that its services were provided free of charge, it decided to stop its work in the field of public goods
due to increasing criticism.
“For this very reason, I will soon stop all work on public goods,” he explained.
ZachXBT continues to uncover crypto scams
ZachXBT is a prominent figure in the crypto industry, providing his expertise
in deciphering crypto crimes to individuals and even national authorities. In fact, in October 2022, French authorities relied on ZachXBT’s research to catch fraudsters involved in a $2.5 million NFT theft.
Christophe Durand, the deputy head of France’s national cyber unit, admitted that they became aware of the incident through ZachXBT’s investigations shared on social media.
Recently, ZachXBT attempted to uncover questionable behavior related to influencer Crypto Rover.
The investigation revealed that Rover ghosted a crypto project that he was paid to promote.
1/ An investigation into how influencer Crypto Rover ghosted a project he was paid to promote, misleading followers about his trading positions and also his flair for pump-and-dump meme coins . pic.twitter.com/s4fDQubYwu
— ZachXBT (@zachxbt) February 20, 2024
The online sleuth claimed the influencer misled followers about his trading positions and participated in pump-and-dump schemes Meme coins participated.
To verify Rover’s involvement, ZachXBT identified transactions associated with Rover’s address.
The tracker found the connections to posts that correspond to the amounts.
Previously, ZachXBT claimed that YouTube star KSI was involved in pump and dump scams.
The allegations stem from KSI’s posts about crypto token investments. This includes a screenshot showing his wallet dropping $850,000 in XCAD Network (XCAD) tokens shortly after a referral.
ZachXBT exhibited a similar pattern in 2021 when KSI expressed positivity about Ethernity Chain (ERN) before selling around $350,000 worth of ERN tokens hours later.
