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Blockchain Investigator ZachXBT Retrieves Most of $177K Stolen DeGods NFT Funds

ZachXBT, a pseudonymous blockchain investigator renowned for his thorough work in the crypto sphere, has successfully retrieved the majority of funds from the sale of a rare DeGods non-fungible token (NFT).

The NFT was pilfered in May 2023 when the original owner fell prey to a phishing scam. In a recent post on X, ZachXBT unveiled the outcome of his nine-month-long investigation into the theft of the DeGods #3251 NFT.

The pilfered NFT, which was sold for 99 Ether in May 2023, approximately valued at $177,000 at the time, has now been restored to its rightful owner. “I am delighted to announce that I managed to assist in recovering a significant portion of the stolen funds, which have now been returned to the victim,” he declared.

How ZachXBT Recovered Stolen Funds

ZachXBT’s investigations can vary in duration depending on the complexity of the case at hand. He frequently utilizes visual aids, such as diagrams, to clarify the mechanics of phishing scams and track the movement of funds, even when they have been laundered through crypto mixers.

“While recovery can take time, it is achievable, and I am always eager to share these success stories,” ZachXBT remarked.

However, the esteemed blockchain investigator also disclosed his intention to conclude his pro bono work in the realm of blockchain investigations soon. This decision stems from the frustration expressed by some users on X who anticipated his assistance in recovering their stolen cryptocurrencies.

Despite reiterating that his services are provided free of charge, ZachXBT has chosen to cease his public goods work due to the escalating criticism. “This is precisely why I am discontinuing all public goods work soon,” he affirmed.

ZachXBT Continues to Uncover Crypto Scams

ZachXBT has emerged as a prominent figure within the crypto industry, offering his expertise in unraveling crypto crimes to both individuals and national authorities alike.

In a notable instance in October 2022, French authorities relied on ZachXBT’s research to apprehend fraudsters implicated in a $2.5 million NFT theft. Christophe Durand, the deputy chief of France’s national cyber unit, acknowledged that they were alerted to the incident through ZachXBT’s investigation shared on social media.

More recently, ZachXBT conducted an investigation into concerning behavior involving the influencer Crypto Rover. The inquiry unveiled that Rover had abandoned a crypto project he had been paid to endorse.

The online investigator accused the influencer of deceiving followers by misrepresenting his trading positions and engaging in pump-and-dump schemes involving meme coins.

In order to corroborate Rover’s involvement, ZachXBT meticulously traced transactions linked to Rover’s address. The investigation uncovered connections to posts that aligned with corresponding transaction amounts.

Prior to this revelation, ZachXBT leveled allegations against YouTube personality KSI for his purported involvement in pump-and-dump scams. These accusations stemmed from KSI’s social media posts discussing crypto token investments. For instance, ZachXBT presented evidence of KSI’s wallet offloading $850,000 worth of XCAD Network (XCAD) tokens shortly after endorsing them. Similarly, in 2021, ZachXBT noted a pattern wherein KSI spoke positively about Ethernity Chain (ERN) before selling approximately $350,000 worth of ERN tokens just hours later.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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