Who is ZachXBT? – All You Need to Know About the Blockchain Sleuth Exposing Crypto Scams

ZachXBT is a popular name within the crypto space. The pseudonymous X user focuses on exposing scams and hacks in the blockchain industry. This guide explains everything you need to know about ZachXBT.

Introducing ZachXBT

ZachXBT is a well-known on-chain detective who uncovers rug pulls and warns crypto users of suspicious Web3 projects. ZachXBT has never revealed his face since he began his detective journey a few years ago.

Nonetheless, his work of exposing scams in the Web3 sector has been crucial to the point that nobody seems to care about finding out his identity. Several major media houses have written articles praising ZachXBT for keeping crypto users safe from bad actors.

Who are ZachXBT Followers on X?

ZachXBT has amassed over 400,000 X followers. Among the followers are prominent names in the crypto industry, including Tron’s founder and CEO, Justin Sun, Binance CEO Changpeng “CZ” Zhao, and Beeple, the digital artist who holds the record of selling the most-valued NFT.

How Does ZachXBT Carry Out His Work?

As mentioned earlier, the on-chain sleuth exposes crypto scams through his X account. ZachXBT usually writes long threads containing details of the alleged scammers and evidence showing their fraudulent crypto projects.

Although the crypto detective’s work has prevented many from being scammed, it has not been without challenges. Earlier this year, ZachXBT was sued by Web3 developer Machi Big Brother after he wrote an article accusing him of embezzling user funds through his crypto project. At the time, ZachXBT denied the allegations, claiming that they were baseless. Crypto players, including Polygon founder Sandeep Nailwal, donated cryptocurrencies to the on-chain investigator to help him raise legal fees to defend himself in court.

Scams Uncovered by ZachXBT

Here are the notable scams that ZachXBT has managed to uncover over the years.

The Bored Ape Yacht Club Phishing Scam

In August 2022, holders of Bored Ape Yacht Club NFTs were targeted through a phishing attack. Several owners lost their NFTs to the scammers. ZachXBT did not detect the phishing scam before it happened. However, he did an on-chain analysis and shared his findings on how the scam was executed. The information helped the French National Cyber Unit arrest the suspects.

How the Bored Ape Yacht Club Phishing Scam Happened

According to ZachXBT, five individuals who were also holders of the Bored Ape Yacht Club NFTs created a website and shared its link on the NFT project’s official Discord channel, telling other holders to open the link in order to generate animated versions of their NFTs. However, those who followed the scammers’ instructions saw their Bored Apes disappear from their wallets.

At the time of the phishing scam, the cheapest Bored Ape was valued at 47 ETH. ZachXBT reported that over $2.5 million worth of NFTs was stolen. He, however, managed to trace the on-chain movement of the stolen NFTs, leading to the arrest of suspects.

Crypto Scam by Blue

In July 2023, ZachXBT unmasked a crypto scam executed by popular YouTuber Blue and his partners. In a long thread, the on-chain detective called out Blue for collaborating with other bad actors in the crypto space to steal over $1.4 million.

According to ZachXBT, Blue worked with notorious crypto scammer Monkey Drainer to steal from innocent crypto users. The detective said the YouTuber began engaging in fraud in 2021 when he scammed NFT holders and used the stolen money to buy a luxury watch, a car, and expensive shoes.

At the time, ZachXBT said he knew Blue was involved in scams after noticing that his Ethereum address had been receiving funds from Monkey Drainer’s wallet.

Final Thoughts

There is no doubt that ZachtXBT’s work has had a positive impact in the crypto space. His dedication to conducting thorough on-chain analysis and exposing scams has helped many crypto investors avoid falling victim to bad actors.