The blockchain detective ZachXBT has reported a crypto stealing that has a value of $4,064 BTC and is multimillion-dollar in nature.
ZachXBT, a prominent blockchain detective on X, has identified a suspicious Bitcoin transfer from a potential victim that is worth millions of dollars.
The development is a result of a Chainalysis mid-year update on crypto crime, which revealed an 80% increase in the average quantity of crypto stolen per heist year-to-date. It is important to note that the inflow of misappropriated funds nearly doubled, from $857 million to $1.58 billion.
On August 19, ZachXBT announced to the X crypto community a “suspicious” transfer from a potential victim, which involved 4,064 Bitcoins ($238 million). The blockchain detective did not disclose the method by which the BTC was stolen; however, he did indicate that the funds were promptly transmitted to Railgun, ThorChain, KuCoin, ChangeNow, eXch, and Avalanche Bridge.
ZachXBT responded, “Not this time,” when asked whether the Lazarus Group was liable for the incident, citing that the funds’ movement was “a bit different.”
Yu Xian, the founder of SlowMist, is one of the prominent industry figures who has responded to the news. He has revealed preliminary investigation findings regarding the suspected theft. Some of the source funds were associated with Genesis Global Trading during the investigation.
“It appears that Genesis Global Trading is associated with some of the source funds after conducting a preliminary examination of the suspected theft of 4064 BTC. The laundering process is somewhat unusual.” Written by Xian.
According to the comprehensive fund map that Xian provided, Genesis Global Trading was associated with three wallets that generated 3,163.59 BTC. The proceeds were transferred in three increments of 50 BTC, 1,000 BTC, and 2,113.59 BTC.
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