Download App
iOS & Android

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

Validated Media

Pseudonymous 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 , 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.

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 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.

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.


All Comments

Recommended for you

  • Three men and women arrested for laundering more than 1.8 billion yuan from virtual currency trading platforms and bank accounts

    Hong Kong Customs broke up a money laundering syndicate and arrested three local suspects who are suspected of using virtual currency trading platforms and multiple local bank accounts opened by companies to process over 1.8 billion yuan of funds with unknown sources. Customs officials targeted the three suspects based on intelligence and launched a wealth investigation, discovering that the three individuals conducted over 1,000 suspicious transactions between June 2021 and July 2022 through the opening of multiple local companies and bank accounts, including the transfer of funds from virtual currency trading platforms, involving more than 1.8 billion yuan.

  • BTC halving countdown only 1 day left

    According to Ouke Cloud Chain data, there is only 1 day and 17 hours left until the BTC halving countdown, which is expected to occur on 2024/04/20. The current block reward is 6.25 BTC, and after the halving, the block reward will be 3.125 BTC. There are currently 253 remaining blocks, the current network hashrate is 587.96 EH/s, the network mining difficulty is 83.95 T, and the average block time is 9.94 min.

  • The total open interest of BTC options is $21.24 billion, and the open interest of ETH options is $9.42 billion.

    According to Coinglass data, the nominal value of open BTC option positions on the entire network is $21.24 billion, and the nominal value of open ETH option positions is $9.42 billion.

  • CZ launches testnet course on Giggle Academy

    CZ, the former CEO of Binance, announced the test network course of the recently launched education project Giggle Academy. CZ shared a video clip on his X account, which involved a course in an installable Android software package (Apk).

  • After the Bitcoin halving, new mining output will be reduced from 900 to 450 per day

    According to HODL15Capital's monitoring, after the halving of Bitcoin, its newly mined output will be reduced from 900 coins per day to 450 coins per day. Based on the current price, purchasing all of these new outputs would cost approximately $28 million.

  • BTC breaks through $62,000, and the intraday decline narrows to 2.96%

    According to market data, BTC has broken through $62,000 and is currently trading at $62,008.36. The intraday decline has narrowed to 2.96%, and the market is experiencing large fluctuations, so please be prepared for risk control.

  • Tether issued USDT worth $437 million yesterday

    Tether issued $437 million worth of USDT on April 17 and redeemed $142 million worth of USDT (a net increase of 295 million USDT in circulation). Approximately $100 million worth of USDT was issued to an address starting with 0x5c (suspected to be a Bitfinex forwarding address), and approximately $81 million worth of USDT was issued to an address starting with 0x77 (suspected to be Bitfinex wallet address 1).

  • Ordinals founder confirms that the Runes protocol only hard-codes rune number 0

    On April 18th, Casey Rodarmor, the founder of Ordinals, stated during a Discord community meeting that the Runes protocol only hardcodes the 0th rune, which is "UNCOMMON•GOODS". The other nine token names are not hardcoded into the Runes protocol due to a lack of good ideas. According to Casey's previous plan, the Runes protocol will hardcode the first 10 runes, which are numbered 0-9.

  • The Future of Culture is Tokenized

    How Culture Coins could be the future of Crypto.

  • NFT Futures: A New DeFi Primitive for a Cultural Based Asset Class

    NFT Futures apply the same concept of perpetual swaps to NFTs In doing so, it unlocks a more accessible and two-sided trading experience not available before in the NFT spot market. Although it is too early to judge, the potential value propositions offered by NFT futures have the potential to grow in the NFT market.