French Cops Use Twitter Crypto Spy To Nab NFT Suspects

French Cops Use Twitter Crypto Spy To Nab NFT Suspects
  • ZachXBT said on Twitter that he is very delight that French authorities have taken action on hackers.
  • ZachXBT also addressed their original Aug. 9 report, which he said began the inquiry.

According to reports, French police used research by pseudonymous blockchain analyst ZachXBT. To prosecute five persons for stealing $2.5 million in Non Fungible tokens (NFTs) via online fraud.

In an AFP story posted by Barron’s on Oct. 12, the suspect fraudsters create a website that tried to portray a service that energizes the static artwork from people’s Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs. Unfortunately for the victims, their credentials were taken and their NFTs were obtained through the fake website instead.

The five are accused of engaging in a criminal organization, concealing fraud, and criminal association. Prosecutors have sought that two of the suspects place in pre-trial detention as they are suspected of being the perpetrators.

ZachXBT Provides Vital Data

Christophe Durand, deputy chief of France’s national cyber unit, told AFP that the inquiry was aid by the personality “on-chain sleuth” ZachXBT on Twitter. And began an inquiry in response to demands from “the community of Bored Ape Yacht Club series owners” who had their tokens hijacked.

ZachXBT said on Twitter that they were “very delighted” that French police have taken action against the alleged scammers. Given that they are an independent investigator supported by community donations, the sleuth was also relieved to see their work previously credited online.

ZachXBT also mentioned their first Aug. 9 story, which he said sparked the investigation. The alleged fraudsters’ use of Tornado Cash to mix and withdraw cash took up a significant section of the inquiry. And the suspect “Mathys. eth” address in particular left revealing clues since they routinely withdrew increments of 10 ETH, which matched the value of the stolen NFTs.

ZachXBT has produced a series of on-chain investigations on rug pulls, frauds, hacks, and pump and dumps. And has amassed a 303,200 Twitter following as a result of their efforts.

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