ZachXBT Launches New Site: Blocks Fraud Investigation Requests from Seven Countries including the UK, Canada, and India

ZachXBT Launches New Site but Blocks Fraud Investigation Requests from Seven Countries

ZachXBT, a well-known on-chain analyst, has revealed plans to launch a new investigative support website aimed at victims of cryptocurrency fraud.

The platform is expected to offer services such as damage assessment, on-chain analysis, and investigation support for recovery, but it has indicated a policy of automatically rejecting and limiting requests from certain countries and regions.

The main reason for these restrictions, as cited by ZachXBT, is the struggle to cooperate with local law enforcement and regulatory bodies. Specifically, he identified India, the UK, Canada, and Nigeria as the "worst" countries, and expressed his intention to exclude and deprioritize requests from a total of seven countries, including Algeria, Bangladesh, and Morocco. He pointed out that "even when evidence is submitted, local authorities do not take action" and that "the response is inadequate," explaining that this is a measure to prevent wasting time and resources.

Criticism and Conflict with Canada and India

ZachXBT has expressed strong dissatisfaction particularly with law enforcement agencies in Canada and India. Regarding Canada, he referred to Toronto as a hub for crime, criticizing the authorities for overlooking submitted evidence and failing to distinguish between legitimate transactions and illicit funds, thereby causing harm to third parties.

In his words about India: "I have never seen incompetence as bad as that in India. Example 1: Indian law enforcement contacted me asking for help in unfreezing stolen funds. Example 2: On another occasion, an email from Indian law enforcement was used to unfreeze funds linked to the Lazarus Group. Example 3: Indian law enforcement mistook a phishing site for a legitimate site and arrested the founder of a CEX."

He also mentioned specific examples of chaos on the ground in India, such as the wrongful arrest of founders due to misidentification of phishing victims and legitimate platforms, and troubles surrounding the freezing of funds involving the Lazarus Group.

These announcements have sparked controversy within the community, with some users reportedly casting a large number of low ratings (thumbs down) believed to be from bots. On the other hand, there are voices appreciating the rational judgment that "efforts should not be focused on cases from regions where cooperation cannot be obtained," while there are also strong opposing opinions stating that "it is unfair to uniformly block support based on nationality or residence."

The Limits of Individuals and the Importance of Official Rules by Public Institutions

While the contributions of independent investigators like ZachXBT are significant in tracking funds on the blockchain, the authority to enforce asset freezes and return rights lies solely with centralized exchanges, police, and law enforcement agencies.

This restriction measure is limited to ZachXBT's personal volunteer efforts and unique services, and does not close the path for victims to seek support through local law enforcement or cryptocurrency exchanges via official channels.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.