Investigation Flags $106M Crypto Theft and $786K Loss from Solana Bot
Written with artificial intelligence.
A European entity is suspected to have lost over $106 million from cryptocurrency exchange accounts, while a wallet linked to a Solana arbitrage bot may have lost around $786,000. Blockchain investigator ZachXBT has identified multiple wallet addresses involved in these incidents.
Overview of the Suspected Thefts
Blockchain investigator ZachXBT reported that an unidentified entity in the European Union could have lost more than $106 million from various cryptocurrency exchanges. This incident occurred on Sunday, with the stolen funds primarily withdrawn in USDC and USDT, before being transferred across multiple cryptocurrencies and blockchains.
Details of the Transactions
The suspected thief converted USDC into Ether (ETH) and utilized instant exchange services like WellWallet and Kyrrex. Subsequently, funds were exchanged into Monero (XMR) via the Wagyu service. Despite the significant amount involved, ZachXBT noted that the transaction patterns do not indicate any connection to North Korea’s Lazarus Group, which has been associated with prior high-profile hacks.
Solana Bot Loss
In addition to the major theft, a wallet connected to an automated trading bot named King on Solana may have lost approximately $786,000. According to Onchain Lens, a pseudonymous blockchain monitoring account, this loss was identified on Monday and involved the movement of funds through several Solana wallets before being transferred to Ethereum using the Mayan service. The rapid transfers suggest a possible wallet compromise, although the operator of King has not confirmed this.
Conclusion
The investigation into these incidents highlights ongoing vulnerabilities within the cryptocurrency space. The affected entity and exchanges involved in the $106 million theft remain unnamed, and both cases underscore the importance of vigilance in crypto asset management.