ZachXBT now puts a suspected EU theft at $133 million
On-chain investigator ZachXBT says a suspected theft from an EU entity has grown past $133 million, with some funds already moved into Monero, according to Unchained.
The facts
- According to Unchained, ZachXBT raised his estimate of a suspected theft from an EU entity to more than $133 million, up from more than $106 million, after tracing another $27 million-plus in exchange withdrawals.
- He said the funds left exchange accounts on Nov. 1 as USDC and USDT, and that part was swapped to ETH, run through instant exchanges and sent into Monero (XMR).
- His working theory is that a large financial institution in Western Europe was exploited and the loss is being covered up. He gave no name or evidence, and no institution, exchange or regulator has confirmed or denied a loss.
- He wrote that the lack of proper disclosure let $30M+ be laundered that EU law enforcement could have frozen.
Case notes · Danny's take
Why it matters
Stolen money has a short shelf life. Every hop from stablecoin to ETH to Monero shrinks what anyone can still freeze. Tether and Circle can block flagged addresses, but only if someone raises the alarm in time. That's the real cost of silence: not embarrassment, but recoverable funds. And remember, the cover-up claim is a theory, not a finding.
For traders
Treat the cover-up claim as unconfirmed until an institution, exchange or regulator says something. Watch the four Ethereum addresses ZachXBT listed and any freeze announcements from stablecoin issuers.
For builders
Fast incident disclosure and working freeze contacts at exchanges and issuers are the difference between recovery and a total loss. If you run custody or an exchange, test that process before you need it.
Not financial advice. Do your own investigation.
This story was summarised with AI from Unchained's reporting and checked against our editorial policy. Danny's take reflects his views. Disclaimer.
Danny Walter
Founder of Moon Republic, Volt Terminal and Moon Republic Academy. Author of The Market Is a Crime Scene and After the Applause.