Key Takeaways
- ZachXBT named Canada the worst country for crypto crimes as local police ignore evidence and fail victims.
- The UK and India rank second and third, with Indian police criticized for incompetence and wrongful arrests.
- ZachXBT is now refusing to help Canadian victims and will block poorly ranked nations from his support site.
Canada Ranked As Worst Jurisdiction For Crypto Crimes by ZackXBT
ZackXBT, a blockchain sleuth that has helped victims of crypto fraud recover millions, published a list ranking the worst jurisdictions for dealing with crypto crimes, naming a surprising first-world country as the worst.
The list has names like Nigeria and Algeria. Nonetheless, Canada, a first-world economy, ranks as the worst jurisdiction for crypto victims, while the U.K. and India take second and third place, respectively.
ZachXBT explained that India’s law enforcement was “incompetent,” citing several cases when official institutions asked for help to release stolen funds linked to Lazarus Group, a known North Korean hacking collective. He pointed out that at one time, local police arrested exchange founders due to confusion with a phishing site.
Nonetheless, he ranked Canada worse, as local law enforcement often refused to act even after receiving evidence of crimes being committed.
“Canada is the type to receive a full report on threat actors from The Com, ransomware, or home invasion robberies with evidence used to prosecute cases in multiple jurisdictions and still not assist victims while claiming it’s a first world country,” he declared.
“Toronto is currently one of the hot spots globally for fraud,” he stressed, also revealing that law enforcement agencies seized Tradeogre assets from innocent users as they couldn’t separate illicit movement from legit activity.
In June, ZackXBT reported he was declining all victims from Canada, citing cases where local law enforcement ignored reports on a phishing scam actor that now executes ransomware operations for millions.
Another case involved a lack of investigation over an Iranian over-the-counter exchange after it was used in the laundering of funds obtained through a home invasion robbery.
“When my website launches soon, we will block all low-quality countries from access to my support,” the investigator announced in his Telegram channel, after accusing one of the mentioned countries of using bots to react to his post.
