On-chain researcher ZachXBT has identified additional suspicious transactions linked to the alleged hack of a major organization. According to his estimate, more than $27 million was withdrawn from centralized crypto exchanges, bringing the total volume of potentially stolen funds to over $133 million.
Of particular concern is the chronology of events: some of the withdrawals were made after the incident first became public. This indicates that the attacker retained access to the assets and continued moving them even after information about the hack entered the public domain.
According to ZachXBT, the victim could be a major financial institution from Western Europe, which apparently seeks to conceal the fact of the compromise. Such a tactic not only contradicts the principles of transparency but also directly complicates the work of law enforcement and on-chain analysts.
The researcher emphasized that it was precisely the lack of timely disclosure that allowed the attacker to launder more than $30 million. In his estimation, these funds could have been frozen by EU law enforcement if the incident had become known earlier.
The case once again raises the question of traditional financial institutions' readiness to work with crypto assets and the need for prompt interaction with blockchain analysts. Delays in disclosing incidents turn potentially reversible losses into irrecoverable ones.
Cryptalist analysis: The incident demonstrates a systemic problem: institutional players often prioritize reputational risks over speed of response, which directly translates into growing losses. For the market, this is a signal of the persistent vulnerability of centralized custodial solutions and the growing value of on-chain monitoring as a tool for minimizing losses.