ZachXBT alleges cover-up as suspected crypto theft tops $133M

Blockchain investigator ZachXBT has raised the estimated value of a suspected cryptocurrency theft involving an unidentified European entity to more than $133 million after tracing another $27 million in withdrawals from centralized exchanges. Summary ZachXBT raised the estimated value of a suspected European crypto theft from $106 million to over $133 million after identifying another $27 million in withdrawals from centralized exchanges. The blockchain investigator suspects that a major Western European financial institution was compromised and accused the affected organization of concealing the incident. ZachXBT claimed that more than $30 million had already been laundered and could potentially have been frozen by European Union law enforcement authorities. The suspected attacker reportedly moved funds through Ethereum, instant cryptocurrency exchanges and Monero, while ZachXBT expressed confidence that North Korea’s Lazarus Group was not responsible. In a November 3 update, ZachXBT said the additional transactions were connected to the same illicit actor identified in his earlier investigation, with some withdrawals taking place after he first disclosed the incident publicly. T...