Unbelievable! After $106 million was stolen, the institution went silent—and the hackers made off with another $27 million
#ZachXBT鏈上偵探出擊
Hackers stole more than $106 million in USDC and USDT from multiple CEX accounts belonging to an EU entity.
ZachXBT quickly identified the addresses and issued a public warning.
But the victim, believed to be a major Western European financial institution, chose to stay silent and not report the incident. It didn't notify exchanges or contact law enforcement to freeze the funds.
After the warning was issued, the hackers transferred another $27 million, bringing the total losses to more than $133 million. Large amounts of funds were laundered in the meantime—funds that could potentially have been intercepted.
Many people are wondering why the exchanges didn't freeze the funds:
Exchanges have no law enforcement powers and can't freeze accounts based solely on an on-chain warning. They need the victim to report the incident or a request for assistance from law enforcement. ZachXBT can track and expose the activity, but has no authority to force a freeze.
The irony is clear: the victim tried to keep the incident under wraps, giving the hackers a window to move the funds.
Based on publicly available information, there is no indication that a vulnerability in an exchange's systems caused the breach.
#ZachXBT鏈上偵探出擊
Hackers stole more than $106 million in USDC and USDT from multiple CEX accounts belonging to an EU entity.
ZachXBT quickly identified the addresses and issued a public warning.
But the victim, believed to be a major Western European financial institution, chose to stay silent and not report the incident. It didn't notify exchanges or contact law enforcement to freeze the funds.
After the warning was issued, the hackers transferred another $27 million, bringing the total losses to more than $133 million. Large amounts of funds were laundered in the meantime—funds that could potentially have been intercepted.
Many people are wondering why the exchanges didn't freeze the funds:
Exchanges have no law enforcement powers and can't freeze accounts based solely on an on-chain warning. They need the victim to report the incident or a request for assistance from law enforcement. ZachXBT can track and expose the activity, but has no authority to force a freeze.
The irony is clear: the victim tried to keep the incident under wraps, giving the hackers a window to move the funds.
Based on publicly available information, there is no indication that a vulnerability in an exchange's systems caused the breach.