ZachXBT: Suspected Stolen Funds Trigger Over $27M in New Suspicious CEX Withdrawals from European Institutions, Total Involved Funds Exceed $133M

On November 3, according to an update from on-chain detective ZachXBT, an additional $27 million in abnormal withdrawals from centralized exchanges (CEX) has been found at a European institution previously suspected of being hacked, bringing the total amount involved in the incident to over $133 million, with some withdrawals taking place after he first publicly disclosed the incident. ZachXBT suspects that the victim is likely a major financial institution in Western Europe, which is reportedly keeping quiet about the security breach. He criticized the institution for failing to report the breach promptly, which led to over $30 million being moved and laundered, costing them the chance to have the funds frozen by EU law enforcement. To date, the identity of the affected institution and the actual losses remain unconfirmed by authorities.