UK-based scammer stole $650k in 12 months

As a seasoned crypto investor with battle scars and war stories to share, I can’t help but feel a mix of emotions reading about ZachXBT’s latest expose. On one hand, it’s heartening to see that there are individuals like him out there who are tirelessly fighting against the scourge of cryptocurrency fraudsters. On the other hand, it serves as yet another reminder of the wild west nature of our beloved industry.


Investigative cryptocurrency expert ZachXBT has unmasked a con artist operating from Britain, who orchestrated approximately $650,000 in cryptocurrency heists over the past year.

With the growing international acceptance of blockchain technology and cryptocurrencies, an increasing number of individuals are joining this realm, driven by the prospect of earning profits and swift financial gains.

Fraudsters are taking advantage of the large number of new participants in the market to deceive investors by stealing their funds on several occasions. As per blockchain researcher ZachXBT, one such scoundrel peddles bogus copy trading insights through a simulated trading account.

The person going by the handle @ape_31/@60711, often referred to as a deceitful actor, has tricked over 250 individuals through counterfeit wallet images, underhanded OTC transactions, and proxy investment schemes, in addition to other fraudulent methods. According to ZachXBT, this individual has at times taken up to $40,000 from unsuspecting investors by employing tactics such as blackmail and intimidation to demand further funds even after the initial deposits made by enthusiastic traders.

In my analysis, I came across another individual who transferred $3K to Ape, sharing with me their conversation. The narrative seemed familiar as they too asserted that the investment was risk-free and promised substantial growth from $10k to $100k in a short span. However, after sending funds, communication ceased abruptly, leaving the victim in the dark. The transaction was traced to a theft address…

— ZachXBT (@zachxbt) September 30, 2024

Some individuals discerned the truth behind the scam and found evidence that led to the identification of the fraudster’s location. An analysis of a TradingView account indicated that @ape_31 utilized a U.K. telecommunications service, suggesting he was residing in Britain. Other victims also verified his voice, which ZachXBT shared publicly for the purpose of exposing the swindler.

On September 19, an individual investigation by ZachXBT led to the apprehension of two hackers residing in Miami. These cybercriminals had orchestrated a theft of $243 million worth of Bitcoin (BTC) from a single creditor of Genesis. Simultaneously, the United States Department of Justice filed charges against these individuals on the same day.

In a flood of responses supporting ZachXBT’s research and sharing experiences linked to the same person, one user voiced criticism towards crypto exchange Bybit. This anonymous account claimed that Bybit’s demo trading interface was deceptively similar to its real trading platform, potentially enabling scammers to exploit it for illegal activities.

It’s been going on for a while, and they don’t do anything about it.

User blasts Bybit for its demo trading page

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2024-09-30 18:50