Enterprise capital agency Paradigm has tapped onchain cybersecurity analyst ZachXBT as an adviser, the corporate’s co-founder and managing associate, Matt Huang, mentioned in a Feb. 26 submit on the X platform.
ZachXBT will likely be working for the VC as an “incident response advisor,” the influencer said in an X submit.
ZachXBT, who has amassed greater than 800,000 followers on X by publishing detailed investigations of Web3 cybersecurity exploits, will proceed publishing investigative content material as earlier than, he mentioned.
“Nothing about his focus will change; we simply wish to help his potential to maintain up the great work,” Huang said.
Paradigm’s rent comes days after crypto trade Bybit fell sufferer to crypto’s largest-ever cybersecurity exploit. ZachXBT will assist the VC’s portfolio corporations safeguard in opposition to assaults, he mentioned.
ZachXBT has joined Paradigm as an adviser. Supply: ZachXBT
Associated: Bybit hackers may be behind Solana memecoin scams — ZachXBT
Historic hack
On Feb. 21, the Lazarus Group, a hacking operation primarily based in North Korea, gained entry to Bybit’s pockets credentials and stole some $1.4 billion value of liquid staked Ether (STETH).
Bybit’s losses are equal to greater than 60% of all crypto funds that have been stolen final 12 months, based on Cyvers data. Bybit rapidly replenished customers’ crypto property and maintained operations with out important downtime.
Since 2021, ZachXBT has performed dozens of investigations into blockchain-based scams, in the end serving to to get better roughly $350 million value of pilfered funds for victims, in accordance with Huang.
In February, ZachXBT revealed that the Lazarus Group, the first suspect behind the Bybit hack, can also be linked to recent Solana memecoin scams, together with rug pulls on the Pump.enjoyable platform.
He additionally revealed that the identical Lazarus Group-affiliated wallets suspected within the Bybit hack have been additionally behind the $29-million Phemex hack in January.
Paradigm invests between $1 million and $100 million in Web3 startups. Its portfolio of greater than 50 investments is value greater than $2 billion, according to information from Fintel.io.
The VC’s investments embody Coinbase, Uniswap and Optimism, amongst others, in accordance with its web site.
Journal: China’s ‘point running’ crypto scams, pig butchers kidnap kids: Asia Express
Cointelegraph by Alex O’Donnell Paradigm taps ZachXBT as adviser cointelegraph.com 2025-02-26 17:32:07
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