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.
ZachXBT’s investigation and Binance’s quick intervention successfully froze a portion of the stolen Bitcoin.
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, the investigator revealed that a social engineering attack had targeted an elderly American victim. The attacker quickly moved the stolen Bitcoin through at least six exchanges and laundered it into Monero (XMR).
ZachXBT stated that investigators have identified two suspects: a Somalian national known as “Nina” or “Mo,” who allegedly runs a call scam operation in Camden, UK, and an accomplice referred to as “W0rk.”
After authorities named both individuals, they deleted their social media accounts.
The thieves relied on social engineering tactics, typically using phishing or impersonation to obtain sensitive credentials.
ZachXBT reported that the attackers operated a coordinated scheme using fake websites and voice calls to manipulate the victim into disclosing private keys or login credentials.
Binance and Crypto Investigators Freeze Stolen Funds
ZachXBT credited Binance’s security team, the pseudonymous investigator tanuki42, and Cryptoforensic Investigators for helping freeze approximately $7 million of the stolen funds.
Binance has not issued a formal public comment, but the platform has a history of collaborating with law enforcement and on-chain analysts to intercept illicit activity.
This case represents a rare instance where authorities quickly recovered funds after a large-scale crypto theft. However, the thieves moved the remaining funds into Monero, a privacy-focused cryptocurrency that conceals wallet balances and transaction history, thereby making them more difficult to trace.
The $330 million theft now ranks among the largest single-wallet heists in crypto history. The incident has also reignited concerns about early adopters who may have failed to update their security practices or cold storage protections.
In previous reports, ZachXBT described the theft as “deeply upsetting,” especially considering the victim’s age and early support for the Bitcoin network. The crypto community and private investigators continue to investigate and track any further movement of the stolen funds.
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