Suspected EU crypto theft estimate rises to $133M: ZachXBT

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.

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.

98 million in stablecoins was converted into 27,553 Ether (ETH) within roughly four hours. 5 million had moved out of the tracked addresses.