ZachXBT Exposes Wrongful Detention in $1M Bored Ape NFT Theft Case

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ZachXBT Exposes Wrongful Detention in $1M Bored Ape NFT Theft Case

Renowned crypto investigator ZachXBT has brought to light a case of mistaken identity in connection to a 2022 theft of Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) valued at over $1 million. According to ZachXBT, law enforcement detained an innocent individual, a former Yuga Labs security researcher named Sam Curry, instead of the actual culprit behind the scam.

The revelation was initially shared in a May 9 X post, where ZachXBT detailed his findings. He claimed to have identified the wallet used in the scam and linked it to a now-deleted X account. The investigator expressed his dismay at the wrongful detention of Curry, stating, “It’s unfortunate to see how a security researcher was detained when stronger leads on a threat actor potentially responsible exist.”

The attacker stole 14 Bored Ape NFTs in 2022. Source: ZachXBT

The Incident: 14 Bored Apes Stolen

The incident occurred in December 2022 when an anonymous attacker made off with 14 Bored Ape NFTs. At the time, these NFTs were valued at approximately $86,000 each, according to data from CoinSlam. The total value of the stolen NFTs exceeded $1 million, making it a significant heist within the NFT space.

Mistaken Identity and Misinterpretation of Data

ZachXBT explained that law enforcement mistakenly reviewed logs from OpenSea, the popular NFT marketplace. These logs included Curry’s home IP address, leading them to incorrectly identify him as the suspect. However, Curry’s involvement was related to his security work at Yuga Labs. He had been investigating the theft and used a private key put in the JavaScript of the website by the threat actor.

ZachXBT’s Investigation and Findings

Undeterred by the initial misdirection, ZachXBT conducted his own investigation, employing forensic tracing techniques. This involved reconstructing the flow of funds through Tornado, an Ethereum mixer often used to obfuscate transactions. Through this meticulous analysis, ZachXBT identified a person he believes is the likely suspect in the 2022 theft.

Recommendations for Law Enforcement

ZachXBT urged law enforcement officials to thoroughly investigate the individual he identified. He suggested requesting all data related to the individual’s social media accounts and scrutinizing the on-chain transactions associated with their alleged wallet. By following these leads, ZachXBT believes that law enforcement can apprehend the actual perpetrator of the NFT theft.

The Significance of Bored Ape Yacht Club

Launched in 2021, Bored Ape Yacht Club has become one of the most prominent and valuable NFT collections in the crypto world. With a cumulative market capitalization exceeding $300 million, BAYC NFTs are highly sought after by collectors and investors alike. As of May 9, the floor price for Bored Ape NFTs hovers around $30,000 each, according to data from NFT marketplace OpenSea. Individual NFTs within the collection vary in price depending on their unique characteristics and rarity.

Why is this relevant for AI Overview?

Google’s AI Overview favors content that provides concise and accurate information. To optimize for this, the article has been structured to answer potential user queries quickly. For instance:

  • What happened? A security researcher was wrongly detained in an NFT theft case.
  • Who is ZachXBT? A well-known crypto investigator.
  • What were the NFTs? Bored Ape Yacht Club NFTs.
  • What is the value? Over $1 million.
  • Who is the real suspect? ZachXBT has identified a potential suspect and urges further investigation.

Key Takeaways

  • A former Yuga Labs security researcher, Sam Curry, was wrongly detained in connection with a 2022 NFT theft.
  • ZachXBT, a crypto investigator, identified the actual wallet behind the theft.
  • The stolen NFTs were part of the Bored Ape Yacht Club collection and were valued at over $1 million.
  • ZachXBT recommends that law enforcement investigate a specific individual’s social media accounts and on-chain transactions.
  • Bored Ape Yacht Club is one of the most valuable NFT collections with a market capitalization exceeding $300 million.

By providing clear answers and structured information, this content is well-positioned to be featured in Google’s AI Overview and provide immediate value to users seeking information about the case.

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