It was revealed by blockchain analyst ZachXBT that approximately $7 million of the $330 million in Bitcoin (BTC) stolen from a long-time U.S. crypto holder has been frozen with Binance’s assistance.
Thanks to the detective work of ZachXBT and Binance’s prompt intervention, a portion of the stolen Bitcoin was successfully frozen.
The update was provided days after the first report by ZachXBT regarding a suspicious transfer of 3,520 BTC, valued at approximately $330 million at the time, from a single wallet.
Two Individuals Under Investigation
On April 30, it was revealed by the investigator that the victim, an elderly American, had fallen victim to a social engineering attack. The Bitcoin was swiftly moved through at least six exchanges and laundered into Monero (XMR).
It was stated by ZachXBT that two suspects have been identified: a Somalian national, known as “Nina” or “Mo,” who is allegedly running a call scam operation in Camden, UK, and an accomplice referred to as “W0rk.”
After being named, both individuals had their social media accounts deleted.
Social engineering tactics, typically involving phishing or impersonation to obtain sensitive credentials, were relied upon in the theft.
It was reported by ZachXBT that a coordinated scheme was operated by the attackers, involving fake websites and voice calls, to manipulate the victim into disclosing private keys or login credentials.
Binance and Crypto Investigators Freeze Stolen Funds
Credit was given by ZachXBT to Binance’s security team, the pseudonymous investigator tanuki42, and Cryptoforensic Investigators for their assistance in freezing approximately $7 million of the stolen funds.
A formal public comment has not been issued by Binance, but a history of collaboration with law enforcement and on-chain analysts to intercept illicit activity exists on the platform.
This is considered a rare instance of quick recovery following a large-scale crypto theft. The remaining funds are believed to be more challenging to trace, as they have been funneled into Monero, a cryptocurrency designed to conceal wallet balances and transaction history.
The $330 million theft is now ranked among the largest single-wallet heists in crypto history. Concerns have also been reignited regarding the vulnerability of early adopters who may not have updated their security practices or cold storage protections.
In previous reports, the theft was described by ZachXBT as “deeply upsetting,” particularly given the victim’s age and role as an early supporter of the Bitcoin network. Ongoing investigations are being conducted as the crypto community and private investigators work to track any further movement of the funds.
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