Coin Edition -
- 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.
In May 2023 the rank 1 DeGods NFT was stolen from a victim after visiting a phishing site and sold for $177K (99 ETH).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.While recovery can be a… pic.twitter.com/rBNB2Sjfin— ZachXBT (@zachxbt) February 24, 2024
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.
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