According to ChainCatcher, on-chain detective ZachXBT disclosed on the X platform that he successfully assisted an elderly American victim in recovering $275,000 in stolen funds. The case originated in April 2024, when the victim encountered an Indian telephone fraud gang impersonating Coinbase customer support, resulting in the theft of most of his savings.
ZachXBT said the recovered funds have been seized by law enforcement and will be returned to the victims. During the investigation, ZachXBT discovered that the scope of the fraud gang is far more than this. He pointed out: "I found that this gang stole more than $5 million from other victims. These funds were transferred from Ethereum and Bitcoin to the TRON network through centralized exchanges, and then transferred to over-the-counter traders (OTC) in the form of stablecoins."