ZackXBT, a blockchain 'detective' who has helped victims of cryptocurrency fraud recover millions, has published a ranking of the worst jurisdictions for combating cryptocurrency crimes, naming an unexpected 'first world' country as the worst.
The list includes countries such as Nigeria and Algeria. Nevertheless, Canada, a first-world economy, ranks number one on the list of worst jurisdictions for victims of cryptocurrency crimes, with the UK and India coming in second and third place respectively.
ZackXBT explained that Indian law enforcement is 'incompetent,' citing several cases where official institutions sought help in recovering stolen funds linked to the Lazarus Group—a well-known North Korean hacking group. He noted that local police once arrested the founders of a cryptocurrency exchange due to confusion with a phishing website.
However, he placed Canada even lower because local law enforcement often refused to take action even after receiving evidence of crimes being committed.
"Canada is the country that receives a full report on the perpetrators from The Com, on ransomware programs or home invasion robberies, complete with evidence used to file cases in several jurisdictions, and still does not assist victims, all while claiming to be a first-world country," he stated.
"Toronto is currently one of the global hubs for fraud," he emphasized, also reporting that law enforcement confiscated Tradeogre's assets from innocent users because they failed to separate illegal operations from legitimate activity.
In June, ZackXBT reported that he is refusing to work with all victims from Canada, citing instances where local law enforcement ignored reports about a phishing scammer who is now conducting million-dollar ransomware operations.
Another case involved a lack of investigation into an Iranian over-the-counter exchange after it was used to launder funds obtained from a home invasion robbery.
"When my website launches soon, we will block access to my support service for all low-quality countries," the researcher announced on his Telegram channel, accusing one of the mentioned countries of using bots to respond to his post.
