Gairika Mitra
An elderly resident of the United States has successfully recovered the $275,000 in crypto stolen by Indian fraudsters posing as Coinbase support.
Law enforcement and blockchain investigator ZachXBT, who posted the news on Monday, helped with the retrieval.
The elderly victim became a target in April 2024 after receiving a series of emails from “Coinbase Support,” claiming that their account had been compromised by malware. The scammers employed an array of psychological manipulation tactics to gain the victim’s trust and extract sensitive financial information.
The fraudsters gained access to the victim’s digital wallet, allowing them to execute unauthorized transactions and drain a large amount from the account. After which, they laundered the funds by converting Ethereum and Bitcoin into Tron via centralized exchanges and transferred stablecoins to over-the-counter (OTC) platforms.
Fortunately, ZachXBT’s blockchain research and cooperation with authorities enabled the recovery of the stolen cryptocurrency. Using the transaction hash 30125031d32a3a2ec9a6963d218bf2494d4392d9444586061a97d84511479346, investigators traced the stolen assets and located the seized funds.
ZachXBT Exposes Scam Tactics
Earlier, ZachXBT revealed details about an audacious and intricate scam. An X user with the handle @ape_31 reportedly defrauded more than 250 users, stealing over $650,000 in the past year.
The scammer’s strategy included sharing fake profit and loss (PNL) screenshots from a Bybit demo account, along with using a new account to entice victims into purchasing paid services. The victims were subsequently blocked.
The investigator also mentioned another attack that resulted in the theft of roughly $3.89 million in Truflation’s native token (TRUF), $1.07 million in Ether, and $236,000 in DAI stablecoin from the project’s treasury multi-signature and personal wallets on Ethereum. Additionally, seven other blockchains lost a a cumulative $100,000.
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Read More
- Truflation Suffers $5 Million Loss in Malware Attack
- Trading Scam Wipes Out Over $650K from X Users
- Teen Sued for $24M Theft in SIM Swap Scam
Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
