ZachXBT reported that the amount he has linked to a suspected crypto theft exceeds $133 million, and suggested that a major financial institution in Western Europe may be hiding the attack.
According to Wu Blockchain, on-chain investigator ZachXBT identified more than $27 million in additional suspicious withdrawals from centralized crypto exchanges. The investigator said some of these movements took place after his initial disclosure.
With the new findings, the total amount he has linked to the incident has surpassed $133 million. In the previously reported claim of a suspicious loss exceeding $106 million, a wallet that made a large Ethereum purchase had been linked to a possible attacker.
Suspicious withdrawals continued after the initial disclosure
ZachXBT’s update not only raises the total amount; the investigator says some suspicious withdrawals also took place after the incident became public. During this period, he also suggested that a major financial institution in Western Europe may have suffered a security breach and be concealing it.
The institution’s identity and the actual amount lost have not yet been confirmed. The figure of more than $133 million represents the total value of the movements the investigator has linked to the suspected theft.
“More than $30 million could have been frozen”
The investigator’s other criticism concerned the consequences of not disclosing the breach in a timely manner. ZachXBT argued that the delay enabled the laundering of more than $30 million in funds.
According to him, the funds could have been frozen if European Union authorities had acted in time. The latest disclosure thus highlighted not only the scale of the suspicious withdrawals but also the claim that an opportunity to intervene was missed.
Not investment advice.