Blockchain investigator ZachXBT identified another $27 million in withdrawals from centralized exchanges, raising his estimate of the suspected theft to more than $133 million. He believes a large financial institution in Western Europe was exploited and is covering up the incident, while the lack of proper disclosure allowed more than $30 million to be laundered. According to Bitquery, $62.98 million in stablecoins was converted into 27,553 Ether within roughly four hours. About $78.3 million remained in wallets linked to the suspected attacker, $30.5 million had moved out of tracked addresses, and only $3.74 million in USDC could potentially be frozen by Circle. The victim’s identity and the allegations of a cover-up remain unverified.
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