ZachXBT Recovers Most of the Funds From an NFT Phishing Attack After 9 Months

  • ZachXBT has recovered a chunk of funds from a stolen non-fungible token (NFT) sale.
  • Hackers stole the rank 1 DeGods NFT from a victim via a phishing attack in May 2023 and sold it for 99ETH.
  • ZachXBT announced he would soon stop his pro bono services because of pressure from the crypto community.

A pseudonymous on-chain researcher identified as ZachXBT on X has recovered a chunk of funds from a stolen non-fungible token (NFT) sale. In a recent post on X, ZachXBT told his followers that he has since returned the recovered funds to the original owner of the NFT.

According to ZachXBT, hackers stole the rank 1 DeGods NFT from a victim via a phishing attack in May 2023 and sold it for 99ETH, equivalent to $177,000. His recovery post comes nine months after the victim reported the theft, suggesting a lengthy investigation. Nonetheless, the on-chain detective expressed his satisfaction with his achievement. He said:

“I am pleased to share I was able to help recover a decent chunk of the stolen funds which have now been returned back to the victim.”

The investigation started in May 2023 after the victim messaged ZachXBT following the realization that hackers had drained his wallet. The victim asked for ZachXBT’s help to recover his stolen digital asset.

Consistent with his operational pattern, ZachXBT used a straightforward diagram to show his followers how the phishing scam occurred and how he tracked the stolen funds. He stated in his post that recovery of stolen digital assets could be a lengthy process. However, he affirmed it happens, noting his delight in sharing the success stories.

Despite expressing delight at his pro bono investigative services to the crypto community, ZachXBT announced he would soon stop the work. He noted that many individuals and projects take advantage of his services with a sense of entitlement. According to the on-chain detective, he is considering joining a firm for profit rather than continuing to deal with the pressure from the community.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Comments

Post a Comment

Popular posts from this blog

Quant Pauses Over $115, But Tends To Move In A Range

Image
Jan 06, 2024 at 10:09 // Price Author Coin Idol The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price Analysis by Coinidol.com. Long-term Quant price prediction: ranging This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average...
Read more

Dogecoin Price Prediction: DOGE Surges 22% In A Week As This Innovative Staking Meme Coin Storms Toward $3 Million

Image
The Dogecoin price has surged 22% in the past week even after it fell 2% in the last 24 hours to trade at $0.170 as of 00:35 a.m. EST on trading volume that plunged 37% to $2.06 billion. Dogecoin Price Prediction: DOGE Aiming For A Bullish Rally The Dogecoin price has been in an uptrend in October, as the bulls used the $0.11 support zone to push the price through a markup phase, according to data from GeckoTerminal . DOGE then went through a consolidation phase from mid-October within the $0.1460 range. The Dogecoin price bulls then used the lower boundary of the sideways pattern at $0.13 as the support to push DOGE through a parabolic curve, which indicates strong momentum. DOGE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the price’s general bullish outlook. The RSI is in bullish territory but not yet overbought, currently at 65, meaning there’s still potential for further gains before any risk of a reversal. If the RSI ...
Read more

Netflix’s Bitconned Exposes Crypto’s Dark Side, Unveils Centra Tech’s Scheme

Netflix documentary “Bitconned” unveils details of a crypto scam orchestrated by Centra Tech. The documentary highlights risks in the unregulated crypto space, emphasizing deceptive projects. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. In the recent documentary release from Netflix titled “Bitconned,” viewers are presented with a comprehensive exploration of the nefarious world of crypto, unraveling a tale of deception, fraud, and the ominous rise of dubious crypto ventures. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. Touted as a revolutionary force in the crypto landscape, Centra Tech, was, in reality, a house of cards built on deceit.  The documentary uncovers the mechanics behind the scenes, showing how Centra Tech managed to rake in millions of dollars daily. Ray Trapani, along with co-founders Sohrab Sharm...
Read more