Fun

ZachXBT recovers majority of $177K stolen NFT proceeds after 9-month probe

News Feed - 2024-02-25 02:02:01

Ciaran Lyons3 hours agoZachXBT recovers majority of $177K stolen NFT proceeds after 9-month probeBlockchain investigator ZachXBT revealed that after a "lengthy process" he has retrieved the majority of the proceeds from a stolen DeGods NFT sold in May 2023.664 Total views29 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksPseudonymous on-chain researcher ZachXBT has recovered most of the funds from the sale of a rare DeGods non-fungible token (NFT), which was stolen in May 2023, after the original NFT holder fell victim to a phishing scam.


In a February 24 post on X, ZachXBT informed his 505,200 followers of the results of his nine-month investigation into the theft of the DeGods #3251 NFT, revealing that most of the funds have now been returned to the victim.


The NFT was sold in May 2023 for 99 Ethereum (ETH), which was worth approximately $177,000 at the time.“I am pleased to share that I was able to help recover a decent chunk of the stolen funds which have now been returned back to the victim.”


ZachXBT received a message from the victim in May 2023, shortly after the victim realized his wallet had been drained, asking for ZachXBT"s help in recovering his digital art.Message exchange with victim and ZachXBT in May 2023. Source: X/ZachXBT


ZachXBT"s investigations can vary in duration depending on the complexity involved. He often uses straightforward diagrams to show his followers how the phishing scams occurred and track the movement of funds, even through crypto mixers.


“While recovery can be a lengthy process it does happen and I am always happy to share these success stories,” he stated.ZachXBT crypto fund tracing diagram. Source: X/ZachXBT


ZachXBT also disclosed his plan to conclude his pro bono blockchain investigation work shortly. 


He revealed this after receiving replies from X users showing frustration because he did not assist them in recovering their stolen crypto as well, despite him reiterating that he provides this service free of charge.


“This is exactly why I am stopping all public goods work soon,” he stated.


Related:New crypto scam drains users" wallets without transaction approval


ZachXBT has played a prominent role across various areas of the crypto industry, assisting in deciphering crypto crimes for individuals and even national authorities.


In October 2022, Cointelegraph reported that the French authorities were even utilizing ZachXBT"s research to catch fraudsters behind the $2.5 million theft of NFTs.


Christophe Durand, the deputy chief of France’s national cyber unit, told the AFP that it became aware of the incident after observing an investigation from ZachXBT on social media.


Magazine:‘Crypto is inevitable’ so we went ‘all in’: Meet Vance Spencer, permabull# Report# Digital Asset# Art# Investigation# NFTAdd reactionAdd reactionRead more46% of largest crypto airdrops peaked within 14 days — CoinGeckoMetaverse for healthcare market expected to reach almost $500B by 2033Solana NFTs hit $5B in all-time sales volume

News Feed

Avail closes $27M seed round led by Founders Fund, Dragonfly
Zoltan Vardai10 hours agoAvail closes $27M seed round led by Founders Fund, DragonflyAvail aims to use the funds to solve the fragmentation issues of the Web3 industry.4400 Total views1 Total sharesListen to article 0:00
The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Jesse Coghlan24 minutes agoRush for Hong Kong’s crypto licenses yet to translate to jobs: RecruitersHundreds of firms have been lining up for a Hong Kong crypto license, but recruiters say they are yet to see an accomp
Savannah Fortis9 hours agoIndia House passes bill to ease Big Tech data complianceThe lower house in the parliament of India approved updates to a bill that would ease data storage, processing and transfer standards for
Whales Are Back: Dogecoin Price Forecast Soars To $20
Este artículo también está disponible en español. The recent increase in whale activity in Dogecoin has reignited bullish sentiments among investors. In the last 24 hours
Malware exploits weak passwords in PostgreSQL for cryptojacking
Derek Andersen2 hours agoMalware exploits weak passwords in PostgreSQL for cryptojackingUp to 800,000 internet-connected databases could be vulnerable to crypto-mining malware that will use their computing capacity.359 T
Cryptovoxels Is Rebranding to Voxels
Cryptovoxels Is Rebranding to Voxels press release PRESS RELEASE.Cryptovoxels, one of the most significant players in the metaverse space, is rebranding to Voxels. The rebrand will
During September DBX Will Be Listed on the World’s Major Crypto Exchanges
During September DBX Will Be Listed on the World"s Major Crypto Exchanges press release PRESS RELEASE. TALLIN, ESTONIA-T he most interesting event of this fall is the listing ofDBX
David Attlee1 hour ago6th Swiss bank joins SDX crypto exchangeHypothekarbank Lenzburg, a regional Swiss bank with over $7 billion in assets, joins SDX’s central securities depository.711 Total views15 Total sharesNewsJ
Ethereum core devs launch ‘pump the gas’ effort to raise gas limit
Martin Young4 hours agoEthereum core devs launch ‘pump the gas’ effort to raise gas limitThe devs argue that raising the gas limit to 40 million will cut Ethereum’s layer-1 transaction fees by 15%–33%.2952 Total
Dubai Couple Ties the Knot in the Metaverse
Dubai Couple Ties the Knot in the Metaverse A Dubai based couple has decided to be wed in the metaverse after legal problems stemming from their nationalities initially forced them
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptoc