Blockchain Investigator ZachXBT disclosed that he has recovered most of the proceeds from a stolen DeGods NFT that was sold in May 2023.
ZachXBT, an alias on-chain researcher, has successfully retrieved most of the funds lost in the May 2023 theft of a scarce DeGods non-fungible token (NFT). The initial NFT holder was duped by a fraudulent scheme.
ZachXBT updated his 505,200 followers on X on February 24 regarding the findings of his nine-month investigation into the theft of the DeGods #3251 NFT. He disclosed that most of the stolen funds have been returned to the victim.
In May 2023, the NFT was sold for 99 Ethereum ETH. At the time, it was valued at approximately $177,000.
“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.”
In May 2023, shortly after the victim discovered his pocketbook had been emptied, ZachXBT received a message from the victim requesting assistance in recovering his digital artwork.
The timeliness of ZachXBT’s investigations is contingent upon the level of intricacy entailed. He frequently employs simple diagrams to demonstrate to his followers how phishing schemes transpire and trace the movement of funds, even through cryptocurrency mixers.
“While recovery can be a lengthy process it does happen and I am always happy to share these success stories,” he continued.
ZachXBT additionally revealed his intention to conclude his pro bono blockchain investigation work shortly. After receiving responses from X users expressing dissatisfaction that he did not assist them in recovering their stolen cryptocurrency, he disclosed this information despite his repeated assurances that this service is provided at no cost.
This is exactly why I am stopping all public goods work soon,” he declared. ZachXBT has significantly contributed to the crypto industry in numerous domains, including assisting national authorities and individuals decipher crypto offenses.
According to a report in October 2022, the French authorities were employing ZachXBT’s research to apprehend the perpetrators responsible for the seizure of NFTs worth $2.5 million.
The deputy commander of France’s national cyber unit, Christophe Durand, told the AFP that the organization learned of the incident through social media after observing an investigation by ZachXBT.
