Crypto Scam: On-Chain Data Tracks More Stolen Funds Moving Into Zcash

Key Insights Crypto scam reports identify stolen funds entering Zcash crypto as the ZEC price falls 3.7%. SlowMist and Mandiant confirmed Bitget losses totaling $387.5 million across 11 blockchains. Following a crypto scam, Bitget announced one-time account closures for some customers. Crypto scam tracking has identified more stolen funds moving into Zcash crypto, according to on-chain analyst Specter. His findings linked the activity to several security incidents following ZachXBT’s disclosure about the Bitget exploiter shielding stolen assets. Specter said additional threat actors had begun directing proceeds into ZEC, using its privacy features for laundering and obfuscation.