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The cybersecurity influencer will continue to publish onchain exploit investigations as before.
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Venture capital firm Paradigm has tapped onchain cybersecurity analyst ZachXBT as an adviser, the company’s co-founder and managing partner Matt Huang said in a Feb. 26 post on the X platform.
ZachXBT will be working for the VC as an “incident response advisor,” the influencer said in an X post.
ZachXBT, who has amassed more than 800,000 followers on X by publishing detailed investigations of Web3 cybersecurity exploits, will continue publishing investigative content as before, he said.
“Nothing about his focus will change; we just want to support his ability to keep up the good work,” Huang said.
Paradigm’s hire comes days after crypto exchange Bybit fell victim to crypto’s largest-ever cybersecurity exploit. ZachXBT will help the VC’s portfolio companies safeguard against attacks, he said.
ZachXBT has joined Paradigm as an adviser. Source: ZachXBT
Related: Bybit hackers may be behind Solana memecoin scams — ZachXBT
Historic hack
On Feb. 21, the Lazarus Group, a hacking operation based in North Korea, gained access to Bybit’s wallet credentials and stole some $1.4 billion worth of liquid staked Ether (STETH).
Bybit’s losses are equivalent to more than 60% of all crypto funds that were stolen last year, based on Cyvers data. Bybit quickly replenished users’ crypto assets and maintained operations without significant downtime.
Since 2021, ZachXBT has conducted dozens of investigations into blockchain-based scams, ultimately helping to recover approximately $350 million worth of pilfered funds for victims, according to Huang.
In February, ZachXBT revealed that the Lazarus Group, the primary suspect behind the Bybit hack, may also be linked to recent Solana memecoin scams, including rug pulls on the Pump.fun platform.
He also revealed that the same Lazarus Group-affiliated wallets suspected in the Bybit hack were also behind the $29 million Phemex hack in January.
Paradigm invests between $1 and $100 million in Web3 startups. Its portfolio of more than 50 investments is worth more than $2 billion, according to data from Fintel.io.
The VC’s investments include Coinbase, Uniswap, and Optimism, among others, according to its website.
Magazine: China’s ‘point running’ crypto scams, pig butchers kidnap kids: Asia Express
This article first appeared at Cointelegraph.com News
