Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M) Theft address bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike
Update: It is confirmed to be a social engineering theft from an elderly individual in the US.
Update: So far $7M+ has been frozen with the help of @CFInvestigators, @tanuki42_, Binance Security team, and myself.
Update: Two suspects in the $330M heist include “Nina/Mo” a Somalian who operates a call scam centre in Camden,UK and an accomplice “W0rk” who assisted with the site/call. They have since deleted social media accounts.
@zachxbt At this rate institutional custody seems more and more 'safe'. Rip
@futjr_ The issue with many of these cases is the victims get social engineered so a lot of the protections would not be helpful
@zachxbt Wow, that’s a massive Crypto hack. Was it North Korea?
@Smokey_titan Highly probable it’s not
@zachxbt wut is xmr ? Btw
@zachxbt bro a 3.5k btc hack???
@FlippingProfits indeed
@zachxbt XMR is only used to launder stolen crypto …
@Tabbakhh no I use XMR for payments frequently…
@zachxbt damn those atomic swaps made it. the fees on most of those are like 1-3%
@pepylamine that’s how you know it’s likely a theft >longtime Bitcoin holder >is a Gemini, River, Coinbase, etc user >$330M suddenly moved today and transferred in small increments to instant exchanges, creating hundreds of orders >gonna lose multiple 7 figs to fees / inefficient for
@zachxbt This Bitcoin is likely to be from the Bitstamp hack that occurred in 2015
@0xtracer_ no it’s it’s an OG bitcoiner who got rekt….
@zachxbt Significant security breach. The large-scale BTC to XMR conversion is expected to leave detectable traces. What measures are being taken to track the laundering routes?
@MtHenye Was this reply generated by AI?
@zachxbt One educational question In such cases you found it via indirect signs like big sell order or big slippages? It might be a many years skill and you do not want to talk about it, I see But in any major hack or theft you are the first to detect! Any systematic method? Or you set
@ArtgEdit Here were the indicators
@zachxbt and here i thought it was people finally caring about privacy
@zachxbt Still shows that XMR is valuable as a privacy coin so not entirely unnatural.... 😅
@zachxbt Thanks Mr.Hacker!
@zachxbt Good luck withdrawing XMR from Kucoin and MEXC💀💀