UK-based scammer stole $650k in 12 months

Crypto sleuth ZachXBT has exposed a British-based scammer responsible for $650,000 worth of crypto theft in the past year.

As blockchain and cryptocurrency adoption expands globally, more users have entered the space searching for profits and quick investment returns.

Scammers have leveraged this influx of new entrants to defraud investors out of their capital multiple times. According to blockchain investigator ZachXBT, one of these criminals uses a demo trading account to sell fake copy trading intel.

The bad actor, known as @ape_31/@60711, has deceived over 250 people with fake wallet screenshots, shady over-the-counter deals, and proxy investing scams, among other tactics. ZachXBT said the perpetrator has sometimes stolen up to $40,000 from individual investors, using blackmail and scare tactics to extort more funds after initial deposits from eager traders.

5/ Example 2: Another victim who sent Ape 31 $3K shared his conversation with me.

It was a similar story where he claimed it was risk free and he could take his balance from 10k-100k in a few days.

After sending funds the victim was ghosted.

Theft address… pic.twitter.com/Z6t4CRJjhp

— ZachXBT (@zachxbt) September 30, 2024

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A few victims saw through the facade and obtained information that helped pinpoint the scammer’s location. A TradingView account revealed that @ape_31 used a U.K. Telecom provider and was likely based in Britain. Other victims were also able to confirm his voice, which ZachXBT has made public in hopes of identifying the con artist.

A separate ZachXBT investigation from Sept. 19 aided the arrest of two Miami-based hackers who stole $243 million in Bitcoin (BTC) from a single Genesis creditor. The U.S. Justice Department also indicted the duo on the same day.

Amid a deluge of replies corroborating ZachXBT’s investigation and sharing stories tied to the same individual, one user criticized crypto exchange Bybit for its demo trading dashboard. The pseudonymous account said Bybit’s demo page was too similar to the real trading platform, allowing scammers to use it for criminal 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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