ZachXBT Flags Suspected $106 Million Theft From EU Entity
Suspected $106 Million Theft Flagged by Investigator
Crypto investigator ZachXBT has flagged a suspected theft of more than $106 million from an EU entity.
The funds were withdrawn from multiple exchange accounts, according to reporting by The Defiant.
Key Details From the Report
- ZachXBT says the stolen funds were swapped into ETH, the cryptocurrency used on the Ethereum network.
- The funds were then routed through instant exchanges, Monero, and cross-chain bridges.
- Instant exchanges are services that quickly swap one cryptocurrency for another.
- Monero is a privacy-focused cryptocurrency.
- Cross-chain bridges move assets between different blockchains.
What Is Reported and What Is Unclear
The theft has not been confirmed by law enforcement or the affected entity in the supplied material.
The name of the EU entity and the date of the incident are not provided.
Sources
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