ZachXBT Lists ‘Bottom 5’ Jurisdictions for Crypto Scam Victims

ZachXBT Identifies Top Jurisdictions for Crypto Scam Victim Assistance

Crypto investigator and Paradigm advisor ZachXBT has initiated a discussion within the cryptocurrency community following the release of a ranking that identifies the "bottom 5 jurisdictions" for crypto scam victims seeking assistance in recovering their funds. This ranking was published on his Telegram channel, "Investigations by ZachXBT," which has a subscriber base of 84.7k. The investigator compiled this list based on his personal experiences assisting victims. The countries listed are Nigeria, India, Canada, the UK, and Russia, in that order.

ZachXBT accompanied the list with a statement indicating, "If you contact me from them I will likely have to decline formally assisting due to stagnant legal cases." This statement suggests that victims from these nations face obstacles, implying that he cannot offer assistance because local legal and law enforcement processes in these jurisdictions often prove ineffective in progressing such cases.

The list rapidly garnered attention across X, with some users expressing differing viewpoints. One comment stated, "Putting Nigeria there is sketchy." ZachXBT later responded to the post, clarifying, "UK & Canada currently are where cases go to die." In a subsequent update, he shared a list of the 'top 5' countries for assistance, which included the Netherlands, the US, France, Singapore, and a tie for fifth position with "a few" others.

Jurisdictional Challenges in Recent Crypto Cases

ZachXBT's assessment aligns with several recent high-profile crypto incidents that highlight systemic issues in how national legal systems address digital asset crime.

India's experience with the significant WazirX hack, where over $230 million was reportedly stolen in 2024, exemplifies the complex legal landscape victims must navigate. WazirX, whose parent entity, Zettai Pte Ltd, is based in Singapore, pursued a court-supervised restructuring in the Singapore High Court despite having a substantial user base in India. The decision to restructure in Singapore and the subsequent approval from a foreign court underscore the absence of a functional and timely regulatory framework in India for resolving large-scale crypto crimes.

Nigeria's inclusion on the list points to technical and judicial deficiencies in handling crypto-related crimes. President Bola Ahmed Tinubu recently urged judges to enhance their understanding of blockchain and cryptocurrency to effectively manage financial crimes involving digital assets. He noted that over 70% of global financial crimes now involve digital elements, reinforcing the investigator's assertion that a lack of judicial expertise in these technologies often results in stalled or mishandled cases.

Canada's high-profile case involving "Crypto King" Aiden Pleterski illustrates similar challenges. Pleterski was accused of defrauding investors of over $40 million in 2022, allegedly spending the majority on a lavish lifestyle instead of investing it. The delays in legal proceedings arguably led to a desperate escalation. Pleterski was subsequently kidnapped, tortured, and held for ransom by investors attempting to recover their lost funds independently. Several individuals, including an investor, were later charged with the kidnapping, demonstrating the consequences when legal systems fail to deliver timely justice.

Also Read: ZachXBT Slams BlockDAG’s Project with Scam Allegations