ZachXBT: Suspected Compromised EU Entity Hit by Another $27M in Abnormal Withdrawals, Total Now Over $133M

November 3 – On-chain detective ZachXBT said in an investigative update that theEuropean institution previously suspected of being hacked has been found to have more than $27 million in additional abnormal withdrawals from centralized exchanges, bringing the total funds involved in the incident to over $133 million, with some of the withdrawals occurring after his first public disclosure. He speculated that the victim may be a large financial institution in Western Europe that is concealing the security incident.

ZachXBT criticized the relevant institutions for failing to disclose in a timely manner, which allowed more than $30 million to be moved and laundered, missing the opportunity for EU law enforcement agencies to freeze the funds. Previously, his community alert showed that the EU entity was suspected of losing more than $106 million from multiple centralized exchange accounts on November 1, with the funds withdrawn in USDC and USDT by illicit actors. The identity of the victim institution and the actual losses have not yet been officially confirmed.