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Paradigm Taps ZachXBT for Cybersecurity
Crypto venture capital giant Paradigm is bringing on blockchain investigator ZachXBT as an incident response adviser. The news was shared by Paradigm co-founder Matt Huang in a post on X (formerly Twitter) on Feb. 26.
ZachXBT, known for his detailed investigations into crypto hacks and scams, has built a following of over 800,000 by exposing fraudulent activity in the Web3 space. He confirmed that despite joining Paradigm, his independent research and investigative reports will continue as usual.
“Nothing about his focus will change; we just want to support his ability to keep up the good work,” said Huang.
Major Hack Sparks Cybersecurity Focus
Paradigm’s decision comes shortly after Bybit, a major crypto exchange, suffered a record-breaking $1.4 billion hack on Feb. 21.
- The Lazarus Group, a North Korean cybercrime syndicate, allegedly breached Bybit’s wallet credentials and drained massive funds.
- This attack alone accounted for 60% of all crypto stolen in 2023.
- Bybit quickly reimbursed affected users and resumed operations without major disruptions.
ZachXBT has been instrumental in tracking funds from various cyberattacks. His investigations linked the Lazarus Group not only to the Bybit breach but also to recent Solana memecoin scams and a $29 million hack on Phemex in January.
Paradigm’s Web3 Investments
Paradigm is one of the most active investors in Web3 startups, with a portfolio worth over $2 billion. The firm typically invests between $1 million and $100 million per project and backs companies shaping the blockchain industry.
Some of Paradigm’s notable investments include:
- Coinbase – Leading crypto exchange.
- Uniswap – A major decentralized trading platform.
- Optimism – A Layer 2 scaling solution for Ethereum.
With cyberattacks becoming more sophisticated, ZachXBT’s expertise will help Paradigm’s portfolio companies strengthen their security and avoid devastating losses.
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