ZachXBT Seeks Donations After Spending $349.7K on $1B+ Crypto Exploit Investigations
Blockchain investigator ZachXBT is seeking grants and donations after spending $349.7K of his own money investigating cryptocurrency exploits totaling more than $1 billion, according to information shared by Coin Bureau.
The fundraising request follows the disclosure of details from what ZachXBT described as one of his riskiest investigations. He said he spent his own markets funds to operate undercover as a potential laundering client inside a Chinese syndicate allegedly moving money for the Democratic People's Republic of Korea (DPRK).
Investigation Into Bybit Hack Funds
According to the account shared by Coin Bureau, the investigation led ZachXBT to a Telegram user identified as “Jimmy Green,” who was allegedly involved in moving funds connected to the $1.5 billion Bybit hack.
To maintain communication with Jimmy and continue the investigation, ZachXBT said he had to accept a 5% loss on every order. The approach allowed him to remain in contact with the alleged intermediary while gathering information about the movement of funds.
Over time, Jimmy appeared to develop trust in ZachXBT, sharing wallet addresses, screenshots and bridge transactions in real time. ZachXBT said he was then able to match those transactions against on-chain activity, allowing him to trace the movement of funds across wallets and bridges.
Evidence and Frozen Funds
ZachXBT said the evidence gathered during the investigation ultimately contributed to Tether freezing $442K in USDT. The figure represents a portion of the funds linked to the activity uncovered during the investigation.
The case illustrates the financial costs that can accompany independent blockchain investigations when investigators take on high-risk cases involving large-scale cryptocurrency exploits and suspected laundering networks. In this instance, ZachXBT said he personally spent $349.7K while pursuing investigations involving more than $1 billion in crypto exploits.
He is now seeking grants and donations to continue conducting similar high-risk investigations. ZachXBT also disclosed that he is currently holding “significant findings” from other cases, although no additional details about those investigations were provided in the source.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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