Blockchain investigator, ZachXBT, has successfully recovered the majority of funds from a stolen DeGods non-fungible token (NFT) after a thorough nine-month investigation. The NFT was originally sold in May 2023 for 99 Ethereum (ETH), valued at around $177,000 at the time, and became the target of a phishing scam.
ZachXBT, a well-known on-chain researcher with over 505,200 followers, recently announced the positive outcome of his extensive investigation. Through meticulous tracking of funds and analysis of phishing schemes, ZachXBT was able to return most of the proceeds from the stolen NFT sale back to the victim. This recovery represents a significant success in the fight against crypto-related crimes.
The investigation began when the victim reached out to ZachXBT for help in May 2023 after discovering the drain on his wallet caused by the phishing scam. Recognized for his expertise in blockchain forensics, ZachXBT received the victim’s request and immediately started tracing and retrieving 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. His approach to investigating crypto crimes involves using simple diagrams to explain the intricacies of phishing scams and carefully tracing the movement of funds, even through crypto mixers.
Through transparent communication with his followers, ZachXBT shares insights into his investigative process, highlighting the potential for successful recovery efforts despite the challenges posed by these crimes. He emphasizes that while the recovery process can be time-consuming, positive outcomes can be achieved with persistence and expertise.
Despite his successful track record and contributions to the crypto community, ZachXBT recently announced his intention to conclude his pro bono blockchain investigation work. He expressed frustration with some users who expected assistance in recovering their stolen crypto, despite his explicit offer of free services. This decision highlights the challenges faced by individuals offering assistance in the crypto space, particularly in managing expectations and balancing workload with available resources.
In addition to individual cases of theft, ZachXBT has also provided invaluable assistance to national authorities in deciphering crypto-related crimes. 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 greatly enhanced understanding and enforcement efforts in combating cybercrime on a broader scale.
