Investigation Reveals Massive Bitcoin Theft
Blockchain investigator ZachXBT recently uncovered a major theft involving 4,064 Bitcoins, valued at around $238 million. The investigation unveiled a series of intricate transactions, with the stolen funds quickly dispersed across various platforms.
Complex Transactions and Asset Distribution
The stolen Bitcoins were efficiently funneled through diverse platforms such as ThorChain, eXch, Kucoin, ChangeNow, Railgun, and Avalanche Bridge. This elaborate strategy was clearly aimed at camouflaging the trail of the illicitly obtained assets, showcasing a high level of sophistication on the part of the perpetrators.
Links to Genesis Trading and Cryptocurrency Community Speculation
Of particular interest in this case were the connections to Genesis Trading, a significant player in the cryptocurrency lending sector. Two victim addresses traced back to Genesis Trading operations, with one address receiving funds related to the company’s bankruptcy just prior to the theft.
Furthermore, the cryptocurrency community has been rife with speculation regarding the possible involvement of known entities like ZachXBT Lazarus in the theft. However, investigative findings suggest a different modus operandi, ruling out such high-profile suspects.
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