Blockchain investigator ZachXBT has declined to trace the $88.6 million Coldcard hack, saying he has 'less obligation' to assist because the Bitcoin community has given him little support for his past work. The decision marks a rare refusal from a figure known for unmasking the perpetrators behind some of crypto's biggest thefts.
Why he's stepping back
ZachXBT stated publicly that he feels less compelled to help this time. His reasoning: the Bitcoin community hasn't offered much support in return for his previous efforts. He didn't elaborate on specific incidents, but the message was clear — the goodwill he's extended hasn't been reciprocated.
The Coldcard hack
The hack targeted Coldcard, a hardware wallet maker popular among Bitcoiners for its security features. The $88.6 million loss is one of the larger thefts this year. Details on how the breach occurred remain scarce, and no suspect has been publicly identified.
What this means for the community
ZachXBT's refusal leaves a gap. He's been a go-to resource for tracking stolen funds and identifying hackers. Without his help, the Coldcard investigation may stall. The timing isn't great — crypto thefts have been on the rise, and the industry relies heavily on a handful of independent sleuths.
The Coldcard hack is still unsolved. Who might step in to trace the funds is an open question.
