ZachXBT Recovers Stolen Funds from Rare NFT Phishing

ZachXBT has successfully retrieved the majority of stolen funds from a phished rare DeGods NFT owner, totaling 99 Ethereum (approx. $177,000).

In May 2023, the original owner of a rare DeGods non-fungible token (NFT) was phished and the proceeds from its sale were stolen. However, a pseudonymous on-chain researcher named ZachXBT has managed to retrieve the majority of those funds.

Following a nine-month inquiry into the theft of the DeGods #3251 NFT, they told his 505,200 followers on February 24 in an X post that the victim has now received the majority of the cash.

A total of 99 Ethereum, or around $177,000 in May 2023, were used to purchase the NFT.

“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, the victim contacted ZachXBT through message, requesting his assistance in retrieving his digital artwork, not long after realizing his wallet had been depleted.

The length of their investigations is proportional to the difficulty of the case. To explain his followers how the phishing schemes happened and to trace the transit of money, even through crypto mixers, he frequently utilizes simple illustrations.

Although he acknowledged that getting well can take a long time, he was pleased to share success stories when they occurred.

Additionally, ZachXBT revealed that he intends to soon wrap up his pro bono blockchain study.

Even though he reiterated that his service is free of charge, he disclosed this after receiving angry reactions from X users who were frustrated that he had failed to help them recover their stolen cryptocurrency.

In his statement, he made it clear that he would shortly cease funding for public goods projects.

From helping people and even national authorities understand crypto crimes to playing a significant influence in the crypto industry as a whole, ZachXBT has been everywhere.

According to reports from October 2022, the French authorities were reportedly using ZachXBT’s study to apprehend the perpetrators of a $2.5 million NFT theft.

Deputy chief Christophe Durand of France’s national cyber unit informed the AFP that the unit learned about the event through their social media probe.