In a rare win against crypto theft, blockchain investigator ZachXBT reveals $7M in stolen Bitcoin has been frozen thanks to Binance’s swift action. The frozen funds were part of a massive $330 million theft involving 3,520 BTC stolen from a longtime U.S. crypto holder.
Veteran Bitcoin Holder Targeted in Social Engineering Scam
On April 30, ZachXBT revealed that the victim was an elderly American who had been tricked through a social engineering attack. The hackers used fake websites and voice calls to deceive the victim into giving up private keys or login credentials.
After the theft, the attackers moved the BTC rapidly across at least six crypto exchanges before laundering most of it into Monero (XMR) — a privacy coin known for concealing wallet balances and transaction history.
Two Suspects Identified After Tracing Wallet Movement
ZachXBT tracked the attackers and identified two suspects. One of them, a Somalian national using the aliases “Nina” or “Mo,” allegedly runs a scam call operation in Camden, UK. The second suspect, known as “W0rk,” likely played a supporting role in the scheme.
After their identities surfaced, both individuals deleted their social media accounts. However, the crypto community and private investigators continue to monitor on-chain activity for further leads.
Binance and Investigators Freeze Stolen Funds
ZachXBT credited Binance’s security team, the anonymous investigator tanuki42, and the Cryptoforensic Investigators for their swift action. Together, they helped freeze around $7 million of the stolen BTC before it fully vanished into privacy networks.
Although Binance has not made a public statement, the exchange has a strong history of cooperating with law enforcement and on-chain investigators to combat crypto crime.
Stolen Funds May Be Lost Forever in Monero
While the recovery of $7 million offers hope, most of the funds remain untraceable. The attackers laundered the majority of the BTC into Monero, a privacy-focused cryptocurrency that prevents public tracking. This method drastically reduces the chances of recovering the full $330 million.
Early Crypto Users Face Rising Security Risks
This incident ranks among the largest single-wallet Bitcoin thefts in history. It also highlights how early crypto adopters — especially those using outdated security practices — face growing risks from sophisticated scams.
ZachXBT described the case as “deeply upsetting,” especially considering the victim’s age and long-time support of Bitcoin. Investigations are still ongoing, with crypto sleuths actively tracing every clue that might lead to further recovery.
