He Solved many crypto mystery

He made millions as OnChainData Analyst

In 2024, the crypto world was rocked by a huge hack. WazirX, one of the biggest crypto exchanges, lost over $230 million to a hacker group called the Lizard Group. Despite their best efforts, WazirX couldn't figure out who was behind the attack.

WazirX announced a big reward in Arkham (ARKM) tokens for anyone who could solve the mystery.

That's when Zach, a dedicated and skilled on-chain data analyst, stepped in.

Zach was known in the crypto community for his ability to uncover hidden transactions and track down hackers.

Driven by his passion for justice and a desire to help, Zach began tracing the stolen funds.

He started with the theft address, This address had been making test transactions on July 10th from a multisig wallet. It was funded with six 0.1 ETH transactions from TornadoCash, a service used to hide the source of funds.

Zach identified the theft address,

He dug deeper and noticed that the address was doing tests with SHIB tokens, matching another address that made six 0.1 ETH deposits the day before,

Zach's analysis showed these deposits were accurate because theft was also testing with a multisig wallet on July 9th. This address was funded with 1 ETH from TornadoCash on July 8th at 3:03 PM UTC,

He matched the 1 ETH deposit made 9 hours earlier to,

Both addresses, , transferred funds to each other on July 9th, breaking the privacy benefits of TornadoCash. By tracing back , Zach found it was funded in two transactions with 0.36 ETH and 0.66 ETH on July 8th from an exchange,

Zach performed a timing analysis and saw the funds were originally from Bitcoin,

At this point, his tracing hit a deadend. The #Bitcoin appeared to come from an unknown service, making it difficult to trace further.

However, Zach noticed that the WazirX hack had similarities to previous attacks by the Lazarus Group, a notorious hacking organization.

Despite the challenges, Zach's work didn't go unnoticed. He solved the Arkham bounty by identifying a KYC exchange deposit made by the WazirX hacker. Although KYC-verified accounts can be bought online, Zach's findings were a crucial step in understanding the hack.

WazirX praised Zach for his dedication and rewarded him with #ARKMUSDT tokens. His story highlighted the importance of on-chain data in ensuring transparency, security, and traceability within the blockchain ecosystem.

What is On-Chain Data?

On-chain data refers to all the information recorded directly on the blockchain, such as transaction details, wallet addresses, and smart contract interactions. This data is crucial for tracking transactions, identifying fraudulent activities, and ensuring the integrity of the blockchain.

Why is On-Chain Data Important?

1. Transparency: Every transaction on the blockchain is public and can be verified by anyone. This openness ensures that all actions are visible, reducing the chances of fraud and manipulation.

2. Security: On-chain data helps in tracking the flow of funds, making it easier to spot and investigate suspicious activities. This was crucial in Zach's investigation, where he traced the hacker's transactions.

3. Traceability: On-chain data provides a clear trail of transactions, allowing analysts like Zach to follow the movement of funds across different addresses and services. This ability to trace transactions back to their source is essential for solving cases of theft and fraud.

How Users Can Access On-Chain Data

1. Blockchain Explorers:

• Use tools like Etherscan (for Ethereum) or Blockchain.com (for Bitcoin) to explore on-chain data.

• Enter a wallet address, transaction ID, or smart contract address to see detailed information.

2. Crypto Wallets:

• Many crypto wallets, like MetaMask or Trust Wallet, allow you to view your transaction history.

• These wallets often provide links to blockchain explorers for more details.

3. APIs and Data Services:

• Developers can use APIs provided by services like Infura or Alchemy to access on-chain data programmatically.

• This is useful for building applications that need to interact with blockchain data.

4. Decentralized Applications (DApps):

• Some DApps provide user-friendly interfaces to interact with on-chain data.

• Examples include Uniswap for decentralized trading or OpenSea for buying and selling NFTs.

5. Running a Node:

• Advanced users can run their own blockchain node to access and verify on-chain data.

• This requires technical knowledge and resources but provides complete control over the data.

Zach’s Investigation

Zach’s use of on-chain data analysis showed how powerful this tool can be. By following the trail of transactions, he was able to uncover crucial information about the WazirX hack and contribute to the security of the crypto community.

His story is a testament to the importance of on-chain data in maintaining the transparency, security, and traceability of the blockchain ecosystem. It shows that with the right skills and dedication, even the most complex mysteries can be solved, ensuring a safer environment for all crypto users. #OnChainData #Bitcoin #ENA