- After a rare NFT was stolen via phishing, the victim reached out to investigator ZachXBT, who tracked the stolen funds over 9 months and recovered most of the proceeds.
- ZachXBT used his expertise in blockchain tracking and fund tracing, even through crypto mixers, to follow the complex theft and identify where the funds ended up.
- Though ZachXBT plans to end his free investigative service due to some criticism, his work has provided justice and restitution to many victims of crypto fraud and theft.
ZachXBT, a blockchain investigator, has recovered the majority of funds from the sale of a rare stolen non-fungible token (NFT) after a lengthy 9-month investigation. According to his latest post, the recovery provided a positive resolution to the victim of a phishing scam earlier in 2023.
The Theft of the Valuable DeGods NFT
In May 2023, the owner of DeGods NFT #3251 fell victim to a phishing scam, resulting in the NFT being stolen from the victim’s wallet. The rare NFT was subsequently sold for 99 Ether (ETH), worth approximately $177,000 at the time.
ZachXBT Begins His Investigation
Shortly after realizing his wallet had been drained, the victim reached out to ZachXBT in May 2023 asking for help recovering the NFT. ZachXBT is known in the crypto community for his blockchain investigations and ability to track stolen funds.
The Lengthy Recovery Process
In a February 24 update, ZachXBT informed his 505,200 Twitter followers that after an intensive 9-month investigation, he was able to recover the majority of the stolen funds, which have now been returned to the victim.
ZachXBT’s investigations vary in duration depending on the complexity of tracing the funds, even through crypto mixers. He uses diagrams to visually show his followers how the scams occurred and how he tracks the funds.
ZachXBT’s Future Plans
In the same Twitter update, ZachXBT shared that he plans to soon conclude his pro bono public blockchain investigation work after receiving frustrated responses from some followers. Despite providing his investigative work for free, some criticized him for not helping them recover their stolen crypto funds.
While rare NFT thefts can be complex and lengthy to investigate, ZachXBT’s work recovering most of the DeGods NFT proceeds shows that recovery is often possible. His unique skills have provided justice and restitution to countless crypto fraud victims.
