The well-known crypto sleuth has been able to track where stolen assets went
Blockchain investigator ZachXBT says he has uncovered a crypto scam that cost users more than $2 million after a fraudster posed as a Coinbase customer support agent. The scheme targeted users of Coinbase and relied on social engineering rather than technical exploits.
https://twitter.com/zachxbt/status/2005649181097205845
In a post shared on X, ZachXBT explained that he traced the alleged scammer by comparing wallet activity, leaked chat logs, and social media posts. He claimed the suspect, described as a Canadian-based actor, had been running the impersonation scam for roughly a year while funneling stolen funds through multiple wallets.
According to the investigation, victims were contacted by someone pretending to work for Coinbase support. The scammer allegedly convinced users that their accounts were at risk and guided them through fake recovery steps. ZachXBT shared a video clip showing the suspect on a call with a victim, reinforcing the appearance of legitimate customer service.
ZachXBT said the suspect tried to erase their trail by frequently changing Telegram accounts and buying rare usernames on Telegram. Despite those efforts, the investigator noted that public bragging on social media made it easier to connect identities and track movements. Screenshots allegedly showed the individual flaunting spending on nightlife, gambling, and online handles.
The investigator added that he was able to identify the suspect’s location using public information but chose not to release details due to platform rules. He also suggested the funds were quickly spent rather than laundered through complex channels.
