• FBI Seizes Assets of Crypto Scammer – Over $250k in Ether, NFTs and Luxury Watches were seized from Chase Senecal.
• On-Chain Sleuth Uncovers Scammer’s Identity – ZachXBT conducted an extensive investigation which contributed to the FBI’s seizure.
• Senecal Has Until April 4th to Request Release of Property – The total value of assets seized by the FBI exceeded $250,000.
FBI Seizes Assets from Crypto Scammer
The Federal Bureau of Investigation (FBI) recently revealed that it had seized more than a quarter million worth of assets belonging to a crypto scammer known as Chase Senecal. This happened after popular on-chain sleuth ZachXBT conducted an extensive investigation into his scams, uncovering his identity in the process.
Seized Assets Include ETH, NFTs and Luxury Watches
According to the official notification posted by the FBI, the assets seized back in October 2022 from Brunswick, Maine include an Audemars Piguet Royal Oak watch valued at $41,000, 86.5 Ethereum [ETH] worth more than $116,000 at the time of seizure and two Non-Fungible Tokens (NFTs). The first NFT was valued at $9361 while Bored Ape Yacht Club (BAYC) NFT was valued at $95495. The total value of assets seized by the FBI exceeded $250k.
Senecal has Until April 4th to Request Release Of Property
Chase Senecal has until April 4th to request release of his property; however details regarding proceedings against him are unclear at press time. ZachXBT claimed that his investigation into Senecal’s scams contributed to the FBI’s seizure in a Twitter thread on 3 February.
Senecal Responsible for Taking Over Several Accounts
Chase Senecal aka Horror (HZ) is allegedly responsible for taking over several accounts using a Twitter panel including @Zeneca, @ezu_xyz and @deekaymotion among several others. It is believed that he paid hefty amounts for unauthorized access to these accounts and then directed payments towards these projects.
Conclusion
The case against Chase Senecal shows how effective on-chain sleuthing can be when it comes to identifying scammers within the cryptocurrency space and helping authorities take action against them. It also highlights how seriously law enforcement agencies are taking cases related to cryptocurrency frauds or scams and how they are prepared to take decisive action when required..