ZachXBT, an on-chain researcher who operates under a pseudonym, has successfully retrieved the majority of the proceeds from the auction of a valuable DeGods non-fungible token (NFT).
This token was stolen in May 2023, when the initial owner of the NFT was tricked by a phishing scam.
On February 24, in a Twitter post, ZachXBT shared with his audience of 505,200 followers the outcome of his extensive nine-month investigation into the theft of the DeGods #3251 NFT, revealing that the majority of the stolen funds had been returned to the rightful owner.
The NFT had been sold for 99 Ether in May 2023, equivalent to around $177,000 then. He announced, “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.”
ZachXBT’s investigations may take differing amounts of time, contingent upon the level of intricacy involved. He frequently employs clear diagrams to illustrate to his audience the mechanisms behind phishing scams and to trace the flow of funds, including those obscured by crypto mixers.
He stated, “While recovery can be a lengthy process it does happen and I am always happy to share these success stories.”
Also Read: ZachXBT Exposes Crypto Rover’s Pump and Dump Scheme
