ZachXBT successfully recovered approximately $205,000 and assisted victims in recovering some of their losses from the 4,064 BTC scam

On August 27, the on-chain detective ZachXBT announced that it had successfully helped a victim recover approximately $205,000. Previously, ZachXBT mentioned in his post that the victim faced losses due to a major scam involving 4,064 BTC (approximately $238 million). After careful investigation and coordination, ZachXBT worked with Firn Protocol to successfully track and freeze the 80 ETH funds deposited by the thief into the Firn platform and transferred them to ZachXBT for eventual remittance to the victim.

Event Review and Action

ZachXBT issued an alert on August 19 about a large-scale scam, reporting that a transfer of 4,064 BTC attracted attention. The funds quickly flowed to multiple platforms, including ThorChain, eXch, Kucoin, ChangeNow, Railgun, and Avalanche Bridge.

Recovery Action:

Firn Protocol took immediate action after receiving ZachXBT's warning. Through quick response, Firn successfully froze the platform funds deposited by the attacker and returned them to ZachXBT for further processing. This action demonstrates the collaborative spirit of the blockchain security community and its determination to fight fraud.

This incident highlights the importance of asset security in the blockchain ecosystem. Investors and platforms should strengthen monitoring of suspicious activities and respond quickly to potential fraud. Utilizing the services of on-chain detectives and security experts can greatly increase the success rate of recovering stolen assets.

Market impact:

ZachXBT's actions not only helped victims recover some of their losses, but also increased attention to blockchain security. Such incidents remind us to stay vigilant in the crypto market, guard against risks, and support professionals who are committed to maintaining network security.

When facing blockchain fraud, timely action and professional cooperation are key. Continue to pay attention to industry trends, ensure the safety of your assets, and enhance awareness of prevention to move forward steadily in this rapidly developing field.

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