ZachXBT's Crypto Investigations Helped Recover $275,000 in Bitcoin Stolen From an Elderly U.S. User

According to the blockchain sleuth, Indian impersonators stole around 15 Bitcoin (BTC) from a Coinbase user back in April.

Crypto sleuth ZachXBT’s investigations have helped an elderly U.S. user recover $275,000 in Bitcoin that was stolen in an apparent social engineering scam.

According to ZachXBT, Indian impersonators stole around 15 Bitcoin (BTC) from a Coinbase user in April. The scammers posed as support agents from the crypto exchange and managed to siphon the victim’s life savings.

Bitcoin was trading as high as $71,000 at the time, putting the value of the user’s stolen 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.

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:

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 are touted for decentralizing finance and expanding capital access, the nascent industry has become a hotbed for bad actors.

Hackers stole $120 million from protocols last month, according to PeckShield, and Scam Sniffer reported that users lost $43 million to phishing attacks in September.

But figures like ZachXBT have dedicated their time and expertise to addressing 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 arrested 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.

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