Bitcoin

ZachXBT

April

Read

ZachXBT’s crypto investigations helped recover $275,000 in Bitcoin stolen from an elderly U.S. user in an apparent social engineering scam. 
According to the blockchain sleuth, Indian impersonators stole around 15 Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) from a Coinbase user back in April. The scammers <a rel="nofollow" href="https://x.com/zachxbt/status/1843261993282650156" target="_blank">posed</a> as support agents from the crypto exchange and successfully siphoned the victim’s life savings. 
Bitcoin traded as high as $71,000 that month, valuing the user’s assets at over $1 million. 
ZachXBT also noted that the Indian scammer group attacked other users and stole more than $5 million from several victims. The funds were laundered via Tron’s blockchain, centralized exchanges, and over-the-counter desks, ZachXBT said. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 In April 2024 an elderly victim from the US was targeted by Indian call scammers posing as Coinbase support resulting in a large portion of their life savings stolen. Pleased to share that I helped recover $275K which was recently seized and will be sent back to them. Theft txn… <a rel="nofollow" href="https://t.co/kJO7wMmtOl" target="_blank">pic.twitter.com/kJO7wMmtOl</a>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1843261993282650156?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 7, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
 You might also like: <a rel="" href="https://crypto.news/robinhood-clo-has-shot-at-sec-chair-report/"> Robinhood CLO has shot at SEC chair: report </a> 
Screenshots shared by the investigator confirmed that U.S. authorities eventually seized the funds. It appears the victim will receive $275,000 back after the ordeal. While blockchain and crypto aim to decentralize finance and expand capital access, the nascent industry has become a hotbed for bad actors. 
Hackers <a rel="" href="https://crypto.news/crypto-losses-to-hacks-surpass-120m-in-september-peckshield-says/">stole</a> $120 million from protocols last month, according to PeckShield, and Scam Sniffer reported that users lost $43 million to <a rel="" href="https://crypto.news/crypto-phishing-losses-drop-to-43m-in-september-scam-sniffer/">phishing</a> attacks in September. 
Figures like ZachXBT have dedicated time and expertise to address the ongoing issue. The pseudonymous security actor has contributed to dozens of seizures, providing on-chain analysis and tracking down stolen funds. 
Last month, Miami police <a href="https://crypto.news/miami-police-arrest-crypto-scammers-behind-243m-theft/" target="_blank">arrested</a> two scammers behind a $243 million Bitcoin heist with ZachXBT’s help. The individuals were also indicted on formal charges by the U.S. Department of Justice after flaunting the wealth stolen from a sole Genesis creditor. 
 Read more: <a rel="" href="https://crypto.news/global-crypto-adoption-index/"> Which countries are winning the crypto race? Global crypto adoption index insights </a>

Senior citizen’s Bitcoin recovered with ZachXBT’s help

crypto.news

Other articles published on Oct 7, 2024

Odds on Adam Back Being Nakamoto Are Soaring Due to Fake Rumors

Spotlight on Qubetics: QubeQode IDE and $1.15M Presale Lead the Charge with Chainlink and Welshar...

Experts Tipping Rexas Finance (RXS) to Reshape the RWA Market, While Solana (SOL) Soars and Rippl...

Scammers Targeting TON Network Halt Their Operations

BingX Exchange Hit by $26M Crypto Theft: Report

Bitcoin Holds Strong as Top Performer Despite Q3 Weakness

Join our free newsletter for daily crypto updates!