Suspected EU crypto theft estimate rises to $133M: ZachXBT ZachXBT identified another $27 million in exchange withdrawals, some of which occurred after he first flagged the suspected crypto theft.
Blockchain investigator ZachXBT has raised his estimate of a suspected crypto theft from an unidentified European Union entity to more than $133 million
On Tuesday, ZachXBT said he identified another $27 million in withdrawals from centralized exchanges, increasing the suspected losses from the $106 million he initially reported on Monday. He said some withdrawals occurred after his primary disclosure. “My working theory is a large financial institution in Western Europe was exploited and it’s currently being covered up,” ZachXBT said Tuesday on his Telegram channel. He also said that the lack of a proper incident disclosure allowed more than $30 million to be laundered, claiming EU law enforcement could otherwise have frozen the funds.
The victim’s identity and allegations of a cover-up remain unverified. Bitquery reported that $62.98 million in stablecoins was converted into 27,553 Ether (ETH) within roughly four hours. As of 13:47 UTC Monday, approximately $78.3 million remained in wallets linked to the suspected attacker, while $30.5 million had moved out of the tracked addresses.