Blockchain investigator ZachXBT Recovers Most Funds From Stolen DeGods NFT; Set to End Public Services
Summary:
Renowned blockchain investigator, ZachXBT successfully recovered most of the funds from the sale of a stolen DeGods NFT, which was the result of a phishing scam in May 2023. He announced the outcome of his nine-month investigation, revealing that the majority of the funds had been restored to the original owner. However, ZachXBT has revealed plans to discontinue his public blockchain investigative service, despite his contributions to solving crypto-related crimes.
Well-known blockchain investigator known as ZachXBT has succeeded in retrieving most of the revenue from the sale of a stolen DeGods non-fungible token (NFT). The NFT in question was taken in May 2023, as a result of a successful phishing attack on the original holder. ZachXBT disclosed the outcome of his nine-month probe into the theft of DeGods #3251 NFT on X on February 24, revealing to his 505,200 followers that the majority of the funds were restored to the rightful owner. The stolen NFT was sold in 2023 for the sum of 99 Ethereum (ETH), valued around $177,000 back then.
ZachXBT expressed, "I'm delighted to announce that I was able to help restore a significant portion of the stolen funds, which have been returned to the owner." The NFT owner reached out to ZachXBT immediately after recognizing that his digital wallet was empty in May 2023, seeking his expertise in retrieving his stolen digital art.
The length of his investigations hinges on multiple factors, including the complexity of the case. ZachXBT’s methodology includes using detailed diagrams to demonstrate the execution of phishing scams to his followers and to track the flow of the stolen funds, even when they pass through crypto mixers. He remarked, "Even though the recovery phase can take some time, successful results do occur and I'm pleased to share these wins."
Apart from this, ZachXBT revealed plans to soon end his public blockchain investigative services. This announcement was made in the wake of receiving negative feedback from X platform users lamenting about not receiving help from him despite the fact that he offers the service at no cost. His contribution to the crypto sector is marked by his integral involvement in solving crypto-related crimes that assist victims and often, national authorities.
In October 2022, French law enforcement employed ZachXBT's findings in order to apprehend criminals who stole NFTs worth $ 2.5 million. Deputy Chief of France’s national cyber unit, Christophe Durand, mentioned to AFP that ZachXBT's internet-based investigation initially brought this case to their attention.
Published At
2/25/2024 8:10:01 AM
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