Blockchain investigator ZachXBT reveals $7M in a major breakthrough in a high-profile crypto theft case. His research led to the freezing of $7 million in stolen Bitcoin, working alongside Binance, crypto investigator tanuki42, and the Cryptoforensic Investigators team. The frozen amount came from a much larger $330 million heist involving 3,520 BTC, taken from a longtime American crypto holder.
Hackers used social engineering to steal 3,520 BTC
The attackers targeted an elderly American investor. They launched a social engineering campaign that involved fake websites and phone calls. These tactics convinced the victim to unknowingly hand over private wallet credentials. The criminals immediately moved the stolen BTC through at least six different exchanges, making it harder to trace. They then converted the stolen Bitcoin into Monero (XMR), a privacy-focused coin that hides wallet balances and transactions.
Two suspects linked to the crypto theft
ZachXBT identified two individuals behind the operation. One suspect goes by “Nina” or “Mo”, a person believed to be running a phone scam network in Camden, United Kingdom. Another person, known as “W0rk”, acted as an accomplice in the laundering process. After investigators published their aliases, both suspects deleted their social media accounts.
Binance steps in to help stop crypto laundering
ZachXBT worked with Binance’s internal security team to block part of the funds before they could disappear further into the crypto ecosystem. The cooperation resulted in the successful freezing of $7 million in stolen Bitcoin. Binance did not issue a public statement about the operation. The exchange often collaborates with law enforcement and blockchain analysts to curb illegal activity.
Most of the stolen Bitcoin vanished into Monero
The rest of the funds have proven harder to recover. The attackers used Monero’s privacy features to conceal the stolen coins. This coin uses advanced cryptographic tools to obscure wallet data, making on-chain tracking nearly impossible.
One of the largest individual crypto thefts ever
The total value stolen ranks among the largest single-wallet thefts in cryptocurrency history. ZachXBT expressed concern for the victim. He emphasized the emotional and financial impact of this event, especially because the victim supported Bitcoin from its earliest days. The case also highlights a recurring risk in the crypto world: many early adopters still rely on outdated storage methods, leaving their assets vulnerable to modern scams.
ZachXBT and other investigators continue monitoring blockchain activity. They remain committed to tracking down the remaining funds and holding the perpetrators accountable.
