ZachXBT Unrewarded for Recovering $20M in Crypto Hack

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Altcoinbuzz2025/01/22 12:22

By:By Victor -Stu L -

ZachXBT, a well-known blockchain investigator, recently revealed that he did not receive any reward.

He played a key role in recovering a significant portion of funds from a $20 million hack targeting the U.S. government.

In a tweet, ZachXBT shared his frustration. Despite helping recover the stolen funds, he received nothing in return.

Debate Over Compensation for Cybersecurity Researchers

This revelation has sparked debates over the role of independent cybersecurity researchers in resolving major hacks and whether they should be compensated for their work. ZachXBT, known for uncovering cybercrimes, acted quickly when the funds were stolen. He used blockchain forensics to trace the stolen funds, aiding in their recovery.

However, despite the successful recovery efforts, ZachXBT claims that no reward or acknowledgment was given for his contribution. Many within the crypto community have voiced their support for ZachXBT.

NEW: @zachxbt SAYS THAT HE WAS NOT REWARDED AFTER HE HELPED RECOVER A SIZABLE AMOUNT OF FUNDS FROM A $20M HACK THAT TARGETED THE U.S. GOVERNMENT pic.twitter.com/MDNArBlYdf

— DEGEN NEWS (@DegenerateNews) January 21, 2025

Where anonymity is often a top priority, and researchers like ZachXBT play an essential role in keeping funds safe. Also, to secure the integrity of blockchain networks. ZachXBT’s lack of reward for his efforts also raises questions about how governments value the work of independent investigators.

More About Crypto Hacks

WazirX has successfully recovered $3 million of the $235 million stolen in a massive hack back in July 2024. While this recovery is a step in the right direction, it highlights a larger issue—only a small fraction of the stolen funds have been returned.

📢 Recovery Update: ~$3M USDT Frozen

As part of the ongoing recovery efforts following the cyberattack, ~$3M USDT has been successfully frozen. This marks an important milestone in safeguarding user interests and recovering stolen assets.

🔍 Why This Matters:

» Rapid Action:… pic.twitter.com/VIn7fEeOcr

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) January 17, 2025

The court’s message was clear: a simple apology isn’t enough when it comes to recovering stolen assets. The road ahead remains long, and it’s clear that more needs to be done to fully address the loss.

Disclaimer

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