Blockchain analyst ZachxBT has revealed that about $7 million of the $330 million bitcoin (BTC) stolen from longtime US crypto holders has been frozen with the help of Binance.
The update reported a suspicious transfer worth around $330 million at the time from one wallet a few days after ZachxBT first reported a suspicious transfer of 3,520 BTC.
Two suspects
On April 30, investigators revealed that the victim was an elderly American who fell prey to a social engineering attack. Bitcoin was quickly moved to at least six exchanges and washed in Monero (XMR).
Zachxbt said two suspects have been identified. A Somali citizen known as “Nina” or “MO” is accomplice known as “W0RK” who engaged in fraudulent manipulation in Camden, England.
Both individuals deleted their social media accounts after being named.
Theft relied on social engineering tactics. This relies on a form of deception, including phishing or spoofing, to access sensitive credentials.
According to ZachxBT, the attackers operated a coordinated scheme involving fake websites and voice calls to manipulate the victim to reveal their private key or login credentials.
Binance and Crypto Detectives Freeze Stolen Funds
Zachxbt praised Binance’s security team, pseudonym investigator Tanuki42, and Cryptoforensic investigators for helping to freeze around $7 million in stolen funds.
Although Binance does not publish formal public comments, the platform has a history of working with law enforcement and Onchain analysts to intercept illegal activities.
This illustrates a rare example of rapid recovery following a massive crypto theft. The remaining funds are considered more difficult to track as they were poured into Monero, a coin designed to obscure the balance and transaction history of the wallet.
The $330 million theft currently ranks as one of the biggest single wallet robbers in the history of the code. It also rekindled concerns about vulnerabilities in early adopters who may not update security practices or cold storage protection.
Previous reports have Zachxbt called theft “deeply upsetting” and take into account the victim’s age and status, particularly as early supporters of the Bitcoin network. The investigation is ongoing as the crypto community and private investigators try to track further moves in funding.
