35.7K $ZEC amid the bridge incident at ILITY. But has the connection been proven?
On-chain researcher Specter Investigation reported the movement of 35,714 $ZEC —approximately $41 million. According to their account, the funds passed through NEAR Intents and were then directed to Bitcoin and Ethereum.
Separately, the ILITY team confirmed a security incident on the network and temporarily halted the bridge. Specter linked a suspicious address to the incident and reported the withdrawal of 4.1 million ILY tokens.
But this calls for a level head. ILITY’s statement confirms an incident, and on-chain data shows the movement of funds. However, this still doesn’t prove that all 35.7K ZEC were stolen through the ILITY bridge. Zcash’s privacy features also make it harder to establish where the funds came from.
I’ve seen more than once how, in crypto, an investigative theory becomes a “proven fact” within a few hours. A transaction trail is a lead, not a verdict. If you care about evidence, not sensational headlines, subscribe to @MoonMan567
On-chain researcher Specter Investigation reported the movement of 35,714 $ZEC —approximately $41 million. According to their account, the funds passed through NEAR Intents and were then directed to Bitcoin and Ethereum.
Separately, the ILITY team confirmed a security incident on the network and temporarily halted the bridge. Specter linked a suspicious address to the incident and reported the withdrawal of 4.1 million ILY tokens.
But this calls for a level head. ILITY’s statement confirms an incident, and on-chain data shows the movement of funds. However, this still doesn’t prove that all 35.7K ZEC were stolen through the ILITY bridge. Zcash’s privacy features also make it harder to establish where the funds came from.
I’ve seen more than once how, in crypto, an investigative theory becomes a “proven fact” within a few hours. A transaction trail is a lead, not a verdict. If you care about evidence, not sensational headlines, subscribe to @MoonMan567