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Recovery of Stolen NFT Funds by Blockchain Investigator ZachXBT
Pseudonymous blockchain investigator ZachXBT has successfully recovered the majority of funds from the sale of a rare DeGods non-fungible token (NFT).
Theft of the NFT
The NFT was stolen in May 2023 after the original owner fell victim to a phishing scam. In a recent post on X, ZachXBT, known for his extensive investigations in the crypto space, revealed the outcome of his nine-month probe into the DeGods #3251 NFT theft.
Recovery of Stolen Funds
The stolen NFT, which was sold in May 2023 for 99 Ether, equivalent to approximately $177,000 at the time, has now been returned to its rightful owner. “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,” he announced.
ZachXBT’s Recovery Techniques
ZachXBT’s investigations can span various durations depending on the complexity of the case. He often employs visual aids, such as diagrams, to elucidate the mechanics of phishing scams and trace the movement of funds, even when they have been laundered through crypto mixers. “While recovery can be a lengthy process, it does happen, and I am always happy to share these success stories,” ZachXBT stated.
Conclusion of Pro Bono Work
However, the renowned blockchain investigator also shared his intention to conclude his pro bono work in the field of blockchain investigations soon. This decision comes in response to frustration expressed by some users on X who expected him to help recover their stolen cryptocurrencies as well. Despite reiterating that his services are provided free of charge, ZachXBT decided to halt his public goods work due to the mounting criticism. “This is exactly why I am stopping all public goods work soon,” he declared.
ZachXBT’s Continued Contributions
ZachXBT has been a prominent figure in the crypto industry, lending 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 apprehend fraudsters involved in a $2.5 million NFT theft.
Uncovering Concerning Behavior
More recently, ZachXBT tried to uncover concerning behavior involving the influencer Crypto Rover. The investigation revealed that Rover ghosted a crypto project he was paid to promote. The online sleuth alleged that the influencer misled followers about his trading positions and participated in pump and dump schemes with meme coins.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
